Deniz 
Following a 7% increase on the day, Bitcoin reached all-time highs in a number of Asian and South American nations, bringing the cryptocurrency ever closer to its peak value in US dollars.
After rising by nearly 7% in the previous 24 hours, Bitcoin prices reached an intraday and six-week high of $71,650 on May 21.
CoinGecko reports the asset has recovered to within 3.4% of its all-time high in USD terms of $73,738, recorded on March 14.
Still, the significant rise drove Bitcoin to new highs in relation to a number of other fiat currencies.
As per CoinMarketCap, early on May 21st, BTC in Japan reached an all-time high of 11.2 million yen.
It is the first instance of the asset being valued at over 11 million JPY. Since the start of the year, the local currency has depreciated 10% versus the US dollar.
In Argentina, Bitcoin values peaked on May 21 at 63.8 million Argentine pesos (ARS), which is somewhat higher than peaks reached in mid-March.
The country in South America has been fighting the devaluation of its currency and inflation, which is now at an astounding 290%.
In a similar vein, on May 21, Bitcoin temporarily hit a record of 4.18 million pesos (PHP), surpassing highs from mid-March.
According to industry watcher Thomas Fahrer on X, other countries where BTC prices have matched or come very close to their mid-March peak prices include Britain, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan, and Turkey.
Bitcoin short position accumulation of a month had just been liquidated, according to crypto expert Willy Woo, who saw it hours earlier.
“One more layer to go in order to short-squeeze past all-time highs,” he said.