Bitcoin hit a record high of $121,207 on Monday. This is the first time the world’s biggest cryptocurrency has gone above $120,000. It happened during the Asian trading session. Right now, Bitcoin is trading at around $121,015, which is still 1.6% higher than the day before.
This jump is not random. It comes at a time when major U.S. lawmakers are finally looking at new rules for crypto. Starting this Monday, the U.S. House of Representatives will debate important bills that could give clear rules for the crypto world.
One of the biggest supporters of this move is Donald Trump. He recently called himself the “crypto president” and asked lawmakers to make the rules more friendly for the industry. This support is giving a strong push to Bitcoin and other digital assets.
Why is Bitcoin rising?
Bitcoin is riding high on three major factors:
Big Investors Are Buying
More and more large institutions are investing in Bitcoin. This is giving others confidence that the price will keep rising.
Trump’s Support
Trump’s open support for crypto is making waves. Traders believe his voice will speed up good news from the government.
Market Momentum
Bitcoin has been rising for six straight days. It’s gained 29% this year alone. Now, traders are saying it may soon test the $125,000 level.
Tony Sycamore, a market expert from IG, says, “It’s hard to see where it stops now.”
Also Read Bitcoin’s About to Shock Everyone—Here’s Why
Altcoins Also Gaining
Bitcoin is not alone. Other cryptocurrencies are also rising:
- Ether went up to $3,050, its highest in five months.
- XRP and Solana both gained around 3%.
- The total crypto market value is now $3.78 trillion, according to CoinMarketCap.
What is “Crypto Week”?
Earlier this month, U.S. lawmakers named the week of July 14 as “Crypto Week.” During this week, they will vote on three key bills:
- The Genesis Act – sets rules for stablecoins.
- The Clarity Act – gives clear legal guidance.
- The Anti-CBDC Surveillance State Act – protects against government control over crypto.
If passed, these bills will shape how crypto works in the U.S. for years to come.
Hong Kong ETFs Also Booming
Not just in the U.S., crypto is booming in Asia too. In Hong Kong, crypto exchange-traded funds (ETFs) are hitting record highs:
- Bitcoin ETFs from China AMC, Harvest, and Bosera all saw huge gains.
- Ether ETFs also went up by around 2%.
Bitcoin has crossed a major line at $120,000. With U.S. lawmakers finally taking crypto seriously and Trump calling himself the crypto president, the digital gold looks ready to shine even more.
