Bitcoin Has A New All-Time High, Depending On Who You Ask

Bitcoin hit a new all-time high Monday against the euro, surpassing 60,000 euros (approximately $65,000) according to Coinbase and CoinMarketCap.

Coinbase clocked bitcoin’s new record euro price at 60,549.61 euros early Monday. CoinMarketCap’s figure was not far off at 60,417.87 euros. Kraken and data firm TradingView came in at the lower end of the range, clocking a new high price of 60,393.00 euros Monday.

Bitcoin’s previous record high against the euro was set in September 2021, months ahead when most exchanges and data providers recorded bitcoin’s all-time high against the dollar in November 2021. TradingView has bitcoin’s previous high against the euro at around 53,000 euros in late September 2021. 

When looking at bitcoin’s high against the US dollar, traders are left with a larger range. 

According to Coinbase, bitcoin has already surpassed its 2021 high against USD when it hit $65,565.75 Monday. The crypto exchange had bitcoin’s previous record high at around $64,000.

CoinMarketCap says bitcoin (BTC) peaked at $68,789.63 in November 2021. CoinGecko has the largest figure, claiming that bitcoin’s all-time high is $69,044.77, also set in November 2021.

Arbitrage across exchanges and data providers is nothing new in the cryptocurrency space. Trading volumes, fees and liquidity vary on different platforms, contributing to the discrepancies.

Plus, exchanges like Coinbase factor in spread, allowing the platform “to temporarily lock in a price for trade execution while you review the transaction details prior to submitting your transaction,” the exchange said.

For traders looking to profit off of different prices, the arbitrage opportunities today are less lucrative than in the past. Spreads across exchanges in 2020 routinely hit around 4%, according to crypto media company CoinCodeCap.

At time of publication Monday, compared to USD, the biggest spread between Coinbase, Kraken, Gemini and Binance was between Binance and Kraken, with Binance pricing bitcoin around 0.5% higher than Kraken.

Source: blockworks.co