Bitcoin crossed the $121,000 mark for the first time on Monday, setting a new all-time high and sparking renewed optimism in the digital asset world.
The king of cryptocurrencies hit $121,207.55 during Asian trading hours before settling slightly lower at $121,015.42 — still up 1.6% on the day.
This latest milestone comes as U.S. lawmakers gear up for a decisive week that could reshape the legal landscape for digital currencies in America.
So far in 2025, Bitcoin has climbed by 29%, outperforming many traditional assets despite uncertainty surrounding global trade, especially the renewed tariff tensions under U.S. President Donald Trump.
Other tokens joined the rally. Ether surged to $3,050.90, a level it hasn’t touched in over five months. XRP and Solana also recorded a 3% jump.
The overall market capitalisation for cryptocurrencies now stands at approximately $3.78 trillion, according to CoinMarketCap.
Hong Kong’s crypto ETFs are also feeling the heat, with prices rising sharply in tandem with the global bullish trend.
Crypto Week Begins in Washington
The U.S. House of Representatives will begin key deliberations this week on several bills designed to offer long-awaited regulatory clarity to the crypto industry.
Among them is the Genius Act, which seeks to introduce federal rules for stablecoins. Two others — the Clarity Act and the Anti-CBDC Surveillance State Act — are also slated for debate.
This flurry of activity has been branded “Crypto Week” in Washington and has the backing of Donald Trump.
The president has declared himself “the crypto president” and has been pushing for “regulations that work in favour of innovation.”
If these bills pass, analysts believe it could unleash another wave of investment into the market.
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