Bitcoin Record High Confusion after Several Exchanges Differs from Global Average
Bitcoin may have appeared to hit a new high this week at $112K, but that was not actually the case.
Quick overview
- Bitcoin briefly appeared to surpass $112,000 on some exchanges, but the global average did not confirm this record high.
- The actual all-time high remains at $111,970, recorded two months ago, leading to confusion among investors.
- Currently, Bitcoin is valued at $110,801, showing a slight increase but still below its previous highs.
- The recent interest in Bitcoin is partly driven by a rally in AI tech stocks, despite ongoing concerns about inflation and tariffs.
Live BTC/USD Chart
Did Bitcoin (BTC) really break its own record and move past $112K (BTC/USD), or is the supposed record high a hoax? It looks like the confusion can be traced to a couple of exchanges.
Bitcoin was recorded as surpassing $112,000 briefly on Wednesday on Coinbase, Bitstamp, and Binance. However, the global average showed that Bitcoin never surpassed its previous record high of $111,970, which was recorded two months ago.
BTC/USDThat is according to CoinMarketCap, Google, and other sources that show the global average of Bitcoin. So, the report that the coin was able to notch a new high is only partially true, and the news may have confused many casual investors who were looking for proof that the coin set a new high.
How Is Bitcoin Performing?
Bitcoin is now at $110,801, which is an increase of 1.23% from the previous day. The coin is down from its previous all-time high record as well as the supposed record high it was said to have achieved on Wednesday. Once the dust settles on news stories that it broke a new high at $112K, any investors will be disappointed, thinking that Bitcoin is surging.
The coin is doing well, but it is not breaking the record for its global average. What is helping the BTC price right now is the AI tech rally led by Nvidia (NVDA). That company’s market cap has increased to $4 trillion- a global first, and that has increased interest in cryptocurrency. As a result, Bitcoin’s value and the value of many crypto tokens has increased over the last 24 hours.
Bitcoin’s trade volume is elevated, up by more than 34% over the last day as interest in the coin is also high. We will have to wait and see if the false positive for a record high settles quickly and leaves many disillusioned and unhappy investors who thought that the coin was achieving a global record for the first time in months.
Bitcoin is still held back by high inflation that does not appear to be decreasing, as well as by ongoing tariff concerns that have been greatly increased this week as Trump has issued a number of new tariff orders for US’ trade partners.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save