An all-time high, abbreviated ATH, is the highest recorded price of an asset in the trading history being measured. It is a historical reference point that remains in place until a higher valid price is recorded, even if the asset subsequently falls sharply.
Define which record is being compared
An ATH depends on the trading pair, venue, data coverage and measurement method. A token can reach a record in US dollars without reaching one against Bitcoin. An intraday trade high may also differ from the highest daily closing price or an aggregated index high.
Check whether a provider includes early trading, filters anomalous trades or adjusts for a token redenomination. These choices help explain apparently conflicting records.
Distance from the peak
If a token’s recorded ATH was USD 10 and its current price is USD 6, it is 40% below that high. Returning from USD 6 to USD 10 requires an approximately 66.7% rise, not 40%, because the starting value changes.
Traders may watch previous highs as psychological reference levels. Reaching or exceeding one does not establish fair value or guarantee further gains. Equally, being far below an ATH does not ensure eventual recovery.