Cointelegraph Team
Cointelegraph
Bitcoin seals new all-time highs against multiple major fiat currencies, but overall mainstream interest from consumers is still at rock bottom.
Bitcoin (BTC) failed to beat its all-time highs on Oct. 20 — but a separate record kept bulls confident of a breakout.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingView
Bitcoin hits new all-time high against euro
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $64,490 on Bitstamp overnight.
While inches from matching April's peak, the action nonetheless sealed Bitcoin's highest-ever daily close — around $64,230.
In several currencies, including the Japanese yen, Australian dollar and euro, new all-time highs were already in on Wednesday.
BTC/EUR 1-week candle chart (Coinbase). Source: TradingView
For popular trader Crypto Ed, it was time to reevaluate likely short-term targets.
"Summary: at 40k I mentioned 73k as first target but I think we're going higher and keep extending those waves. I think we even have a good chance we're not going sub 60k for a while," he tweeted.
A worst-case scenario could involve a brief "spike" downwards to $58,000, but this would be followed by clear skies for "the coming weeks/ months," he added.
The bullish tone across the board follows a successful day for the first Bitcoin exchange-traded fund (ETF) in the United States, with $1 billion in volume and $550 million in assets under management after just a single trading session.
Correspondingly, Bitcoin futures open interest hit fresh all-time highs of $817.6 million, data from on-chain analytics firm Glassnode confirms.
Where's the FOMO?
The atmosphere makes the comparative lack of mainstream interest in Bitcoin all the more unusual.
Beyond institutional excitement, data shows that hardly anyone is following or checking on Bitcoin relative to earlier this year.
As Cointelegraph reported, this has been the case for some time, but even a trip to the threshold of all-time highs has failed to upend the trend.
Worldwide Google search interest in "Bitcoin." Source: Google Trends
A normalized score from Google Trends put "Bitcoin" interest at 36 this week, relative to 100 in mid-May.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?