Bitcoin touches $120,000 for the first time; investors eye key US crypto bills; digital currency up 29% so far this year
Bitcoin reached a new all-time high of $121,207.55 during Monday's Asian trading session, before settling at $120,856.34, representing a 1.5% increase.
Reuters reported.
The cryptocurrency has gained 29% since the beginning of the year, contributing to a broader upward movement in other digital currencies despite the uncertainty surrounding Trump's tariff policies.
Ether, which ranks second in market capitalisation, reached its highest level in more than five months at $3,048.23 on Monday, and was subsequently trading at $3,036.24.
Starting this week, the US House of Representatives is set to debate multiple bills aimed at establishing a long-awaited regulatory framework for the digital asset sector.
The push for clearer rules has gained momentum under US President
Donald Trump
, who has dubbed himself the "crypto president" and called for industry-friendly reforms.
Bitcoin (BTC) hit a record high of $119,240.26 on Sunday evening and has since hovered near the $118,000 level.
Ethereum (ETH) also saw a strong rally, jumping over 17% in the past week to reach $3,008.22 at the time of writing.
According to CoinMarketCap data, the total cryptocurrency market capitalisation has expanded to approximately $3.78 trillion.
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