Bitcoin surpassed the $120,000 mark for the first time on Monday, reaching an all-time high of $123,153. Although it experienced a slight pullback later in the day, the leading cryptocurrency traded at around $122,000, up approximately 2.4%.
This historic surge coincided with the US House of Representatives preparing to debate a series of bills related to the digital asset sector.
These bills aim to create a clear and comprehensive legal framework that the crypto industry has long demanded.
Former US President Donald Trump, known for his crypto-friendly stance, also threw his weight behind the process, declaring himself “crypto president” and calling on regulators to develop policies that support the sector. Trump’s statements boosted investor confidence and created a positive atmosphere in the markets.
IG market analyst Tony Sycamore said that the sharp rise in recent days is based on several factors.
“Strong institutional demand, expectations of further price increases, and clear support from Trump have given Bitcoin a significant boost. We’ve seen quite strong movement over the last six or seven days, and testing the $125,000 level seems quite possible at this point,” he said.
This surge in the crypto market signals a critical turning point for investors and regulators. Decisions made in the US could affect not only local markets but also the global digital asset ecosystem.
