Bitcoin, the world’s leading cryptocurrency, has surpassed the $120,000 level on Monday for the first time, marking a notable achievement in the crypto industry and a key moment in global finance.
The all-time high underscores investor confidence as the U.S. Congress begins its highly anticipated Crypto Week to advance global asset regulatory clarity.
Bitcoin briefly touched a new peak of $123,205 in early trading before settling around $121,952, still up by 2.4 percent on the day.
The surge comes despite ongoing concerns over President Donald Trump’s trade policies.
Regulatory clarity and optimism fuel Bitcoin’s surge
Furthermore, investors are growing confident in the upcoming congressional debates on several pivotal crypto-related bills, including the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act.
The GENIUS Act, in particular, seeks to establish a federal framework for stablecoins, and its progress is seen as a gateway to broader institutional adoption.
“This shift signals a maturing perspective on Bitcoin — not merely a speculative asset, but a macro hedge and a structurally scarce store of value,” said George Mandres, senior trader at XBTO Trading LLC, as quoted by Bloomberg.
Congress’s crypto-focused agenda, paired with the Trump administration’s pro-crypto stance, has lifted sentiment across the digital asset space. Notably, President Trump’s appointment of Paul Atkins as SEC Chair and the executive order to launch a U.S. Strategic Bitcoin Reserve have added to the bullish outlook.
Much of the fresh demand flows through U.S.-listed Bitcoin exchange-traded funds (ETFs), which saw over $2.7 billion in net inflows last week alone, the fifth-highest since their approval in January 2024.
“Support at $112,000 and any dip looks like a buying opportunity, not a reversal,” said Rachael Lucas, a crypto analyst at BTC Markets.
Open interest in Bitcoin futures also surged to a record $86.3 billion on Monday, while ETF assets under management hit $151 billion across 12 funds.
In Hong Kong, crypto-related ETFs from China AMC, Bosera, and Harvest all posted new highs, with Ether-based ETFs climbing more than 2 percent.
Bitcoin’s dominance is rippling across the broader market. Ether rose to $3,059, its highest point in over five months. XRP and Solana also gained approximately 3 percent each.
According to CoinMarketCap, the total cryptocurrency market capitalisation has increased to $3.81 trillion.
Bitcoin’s strength defies market
Despite macroeconomic uncertainties, including the Trump administration’s controversial tariffs and a weakening U.S. dollar, Bitcoin remains a resilient hedge asset.
The U.S. Dollar Index has fallen 10 percent this year, adding more pressure on traditional fiat-backed investments and driving interest in decentralised alternatives.
Investments from corporate treasuries are adding another layer of support. Public companies acquired a record 159,107 Bitcoin in Q2 2025, a 23 percent increase from the previous quarter, with MicroStrategy alone holding over 597,000 BTC.