Bitcoin has broken its previous all-time high, surpassing $120,000 for the first time, driven by relentless institutional demand and optimism surrounding upcoming US cryptocurrency legislation.
On Monday morning, BTC reached $122,000.
Rachael Lucas, crypto analyst at Markets, noted:
"Bitcoin has pushed to yet another all-time high, and it's not happening in isolation. There's real momentum behind this rally, ETF inflows have surged past US$1 billion per day, and total assets under management have now crossed US$150 billion. That's over 6% of the entire bitcoin market cap now sitting in ETFs, which signals deep institutional conviction."
The rally coincides with "Crypto Week" in Washington, where lawmakers will debate key bills such as the CLARITY Act and the GENIUS Act, both considered favorable factors for the market.
Later today, the US House of Representatives will debate a set of bills aimed at establishing the first comprehensive regulatory framework for the digital asset industry—a move long sought by the sector.
The industry’s calls have found support from US President Donald Trump, who has dubbed himself the "crypto president" and pushed for policy reforms to bolster the sector.