Bitcoin Surpasses $1 Trillion Market Cap, Hits All-Time High Against Japanese Yen
Bitcoin has experienced a significant climb of nearly 20% this week, resulting in it surpassing the $1 trillion market cap for the first time since November 2021. This surge can be attributed to the continued inflows to the newly launched spot ETFs earlier this year.
As a result of this milestone, Bitcoin has reached an all-time high against certain depreciating fiat currencies, including the Japanese Yen. Specifically, Bitcoin surged to a fresh peak of 7.9 million Yen on the Tokyo-based cryptocurrency exchange bitFLYER. However, its price in USD still remained above $52,000, which is more than 30% lower than its previous record high of $69,000.
BTC/JPY Trading Pair Reaches New Record
Despite experiencing a minor retracement, the BTC/JPY trading pair is currently valued at 7.809 million Yen, which is equivalent to around $51,860. This exceeds its previous record peak of 7.79 million yen that was recorded in November 2021.
tapped an ATH against the Argentine peso as the Latin American country’s annual inflation rate hit a three-decade high of over 254%
By
By
By