Bitcoin crossed the level of $ 120,000 for the first time on Monday, marking a milestone for the world’s largest encryption, as investors bet on the long -standing policy that is gaining the industry this week.
Bitcoin escalated a record of $ 122,571.19, before slightly pulling the last trade of 2.4% higher at $ 121.952.61.
Later on the day, the US House of Representatives will discuss a series of accounts to provide the digital assets industry with the regulatory framework of the nation it has long requested.
These demands have resonated with US President Donald Trump, who has called himself a “president of encryption” and urged policymakers to upgrade the rules in favor of industry.
Reading: Trump -friendly policies lead to the recording of demand for Bitcoin investors
“It is taking a series of tailwinds right now,” said the IG Tony Sycamore market analyst, citing strong institutional requirements, expectations for further profits and support from Trump as reasons for overthrow.
“It was a very, very, strong move in the last six or seven days and it is difficult to see where it stops now. It seems that it can easily take a look at $ 125,000,” he said.
The increase in Bitcoin, which has increased by 29% for the year so far, has caused a wider rally in other cryptocurrencies during the latest sessions, even in the face of Trump’s chaotic invoices.
The ether, the second largest distinctive, escalated over five months of sum of $ 3,059.60, while XRP and Solana won about 3% each.
The total market value of the sector has been enlarged to about $ 3.81 trillion, according to Coinmarketcap data.
“What we consider to be interesting and closely watching are the signs that Bitcoin is now regarded as a long -term asset, not only by retail investors and institutions, but also for some central banks,” said Gracie Lin, chief executive of OKX’s Singapore.
“We are also seeing the growing involvement from Asia -based investors, including family offices and wealth managers. These are strong signs of Bitcoin’s role in the global financial system and structural shift in the way they perceive, suggesting that this is not just one.”
Earlier this month, Washington declared the week of July 14 as “Crypto Week”, where members of the Congress are going to vote on genius law, clarity law and the law on anti-CBDC monitoring state.
The most important bill is the law on genius, which would create federal rules for Stablecoins.
Elsewhere, the prices of encrypted brokerage capital (ETFS) in Hong Kong also increased on Monday.
The Spot Bitcoin ETF launched by China AMC, Harvest and Bosera all high records, while the three ETF ETFs managed by the asset administrators increased more than 2% each.
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