Bitcoin has reached a new historic milestone, briefly surpassing $122,500 on Monday, marking the first time the cryptocurrency has crossed the $120,000 threshold.
According to data from major exchanges and market analysts, Bitcoin rose as much as 2.4% during early trading hours before stabilizing around $121,900 by midday. The surge extends a strong rally in 2025, with the cryptocurrency gaining approximately 29% since January.
Analysts attribute the latest surge to a combination of rising institutional interest and optimism around upcoming U.S. regulatory measures.
The U.S. Congress this week kicks off what lawmakers have dubbed “Crypto Week,” during which they will discuss several major bills, including the Genius Act (focusing on stablecoin frameworks) and the Clarity Act (designed to provide clear regulatory guidelines for digital assets).
President Donald Trump has expressed strong support for cryptocurrency initiatives in recent months, calling himself a “crypto president” and publicly backing plans for a U.S. strategic Bitcoin reserve.
BlackRock’s bitcoin spot exchange-traded fund (ETF) has also set new records for inflows, now holding over $83 billion in assets. These inflows have reinforced confidence in Bitcoin as a maturing asset class, similar to gold, but with higher growth potential.
The rally in Bitcoin has lifted other major cryptocurrencies as well. Ethereum climbed to a five-month high above $3,050, while tokens such as Solana and XRP each posted gains of approximately 3%.
Overall, the global cryptocurrency market capitalization has grown to about $3.8 trillion, driven by strong investor sentiment and expectations of further institutional adoption.
The upcoming legislative discussions in Washington are widely seen as critical for the future of digital assets in the U.S. Investors expect that clearer legal frameworks will encourage broader adoption and reduce uncertainty for both institutional and retail participants.
While some lawmakers continue to express concerns about market volatility and consumer protection, the momentum behind pro-crypto bills signals a shift toward more supportive policies.
