Bitcoin at 110,000 USD: Will it reach 100,000 EUR?
Bitcoin hit a new all-time high in dollars, surpassing $110,000, but many wonder if it will also reach 100,000 euros. We analyze the situation from a European perspective.
Regarding this, Thomas Perfumo, Director of Strategy at Kraken, explained that the new all-time high is a sign that this bull market still has room to run. He highlighted a vicious cycle created mainly by three key aspects:
- The recovery of global stock markets increases risk appetite.
- Record inflows into Bitcoin ETFs.
- Surging corporate demand. Preceded by Strategy.
We could also mention as a catalyst that the Texas House of Representatives approved Bill SB21 to create a strategic Bitcoin reserve. This makes it the first state in the Western world to hold Bitcoin as part of its fiscal policy, which could inspire other states or even countries.
https://x.com/Bitcoin_Laws/status/1936520317696127325?t=-CGIIkfRZRzMgLacjIU5TQ&s=35
Likewise, trader and market analyst Willy Woo argues that $110,000 is just the beginning of something much bigger: *”Once BTC properly breaks past all-time highs, the move to 118K will be very fast.”*
https://x.com/woonomic/status/1925108444237103318
Similarly, Michael Saylor, CEO of Strategy, predicted that Bitcoin could easily reach $180,000 this year before undergoing a price correction and dropping to $140,000.
Why does the 100,000 EUR barrier matter?
The 100,000 EUR barrier is not just symbolic—it is a revealing benchmark for Bitcoin in Europe. In fact, for millions of users in Europe, it represents a key psychological milestone, as it can influence adoption and investor/trader interest. Here are some reasons:
- Surpassing the 100,000 EUR barrier could attract new investors and generate market enthusiasm.
• It strengthens Bitcoin’s perception as an investment asset, even above gold.
• Adoption interest. Breaking this level could push financial institutions to invest more in Bitcoin.
• Impact on volatility. It could create opportunities for traders but also risks for investors.
• Effect on perception. It could attract new users and foster crypto adoption.
• Investment opportunities. It would generate opportunities for investors who believe in Bitcoin’s long-term potential.
Bitcoin in Europe
In short, the 100,000 EUR barrier is an important benchmark for Bitcoin in Europe, as it can influence valuation, adoption, investor interest, and public perception of the cryptocurrency.
Price perception in European markets
While some European financial institutions have begun to recognize the growing demand for crypto assets, most still show limited adoption.
However, with the consolidation of regulatory frameworks and the emergence of technological solutions tailored to their needs, the sector has the opportunity to bridge the gap between supply and demand.
Bitcoin price perception
Generally, the perception of Bitcoin’s price in European markets is varied, but there is a preference toward adoption and interest in this digital asset. Although Bitcoin is volatile, its potential as a long-term investment and a safe-haven asset in times of economic uncertainty captivates investors.
The perception of Bitcoin’s price in European markets is complex and multifaceted, but there is generally a trend toward adoption and interest in this digital asset, especially as a long-term investment and an alternative to traditional money.
Comparison with previous ATHs in EUR
Since Bitcoin’s birth, many things have happened—growing demand, investments, regulatory acceptance. Sometimes its price has risen, and other times it has fallen. However, this has taken it from being worth absolutely nothing to surpassing the €90,000 mark.
Now, this entire price dynamic is what leads Bitcoin to reach its all-time highs or ATHs. Throughout its history, Bitcoin has reached several ATHs. Around October 30, 2024, Bitcoin’s price surpassed €68,000 for the first time in history. In the days following that date, and even today, Bitcoin’s price in EUR has continued to hover around and exceed €90,000.
Since it surpassed €90,000, several events have occurred in the crypto market:
• ETF approval. One of the biggest catalysts.
• Rising institutional interest.
• Inflation has led investors to consider Bitcoin as an option.
• Safe haven. Seeking alternatives in Bitcoin as digital gold.
• Technological developments. Easier access to platforms.
Euro-dollar relationship: A key factor
Additionally, the EUR/USD exchange rate impacts the crypto market by influencing prices across different markets. In reality, a stronger euro can increase demand for cryptocurrencies, while a weaker euro can reduce trading volume and price. Below is a more precise breakdown:
- Cryptocurrencies typically trade in USD, but their value in other currencies like EURis determined by the exchange rate.
• The EUR/USD exchange rateessentially translates a cryptocurrency’s price from USD to EUR, affecting its price in European markets.
• This means that when the EUR/USD exchange rate changes, a cryptocurrency’s price in EUR will also change, even if its price in USD remains the same.
• The European Central Bank (ECB) and the Federal Reserve (FED) play a crucial role in influencing the EUR/USD exchange rate through their monetary policies.
• Inflation, unemployment, and GDP growth can affect the EUR/USD exchange rate.
• Exchange rate fluctuations can contribute to price volatility in the crypto market.
Euro-dollar relationship
Very importantly, understanding the factors influencing the EUR/USD exchange rate and how they impact the crypto market is crucial for traders and investors.
Economic context in Europe and its effect on Bitcoin
The European macroeconomic situation has a significant and multifaceted effect on Bitcoin’s price and, therefore, can accelerate or delay BTC’s arrival at €100,000. Here are the key factors:
- Accelerating factors: Inflation, euro weakness, geopolitical uncertainty, and institutional adoption.
• Slowing factors: Economic stability, unfavorable regulation, and economic recession.
Among the factors slowing Bitcoin’s price, we could mention, for example, that U.S. President Donald Trump wrote on Truth Social that the European Union “was created with the primary goal of taking advantage of the United States in trade. Therefore, I recommend a direct 50% tariff on the European Union starting June 1, 2025.”
As a consequence of this message, investors flee assets largely considered “risky.” And Bitcoin, although not precisely a risky asset, is often perceived as such, especially in times of crisis.
How can you take advantage of it with Bitnovo?
Despite market fluctuations, investing in Bitcoin has gained great popularity in recent years, becoming an attractive way to diversify an investment portfolio.
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Why Bitnovo?
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To conclude, it may be thought that Bitcoin’s bull cycle still has strength to continue. Certainly, this does not mean the digital currency cannot have bearish corrections, but, in Willy Woo’s words, every dip offers an opportunity to buy BTC at lower prices.
Or simply follow Michael Saylor’s recommendation?: “If you don’t buy Bitcoin at its all-time high, you’re losing money.”