Bitcoin Hits $120,000 as U.S. Debates Crypto Bills
Bitcoin crossed the $120,000 level for the first time on Monday. The new high marked a significant point for the world's largest cryptocurrency. The increase came as investors responded to expected policy changes in the digital asset space.
On Monday, the U.S. House of Representatives began debating a set of bills. These bills aim to establish a regulatory framework for the digital asset industry. The industry has long requested clear rules to guide operations in the U.S.
U.S. President Donald Trump has recently voiced support for the sector. He has called himself the 'crypto president.' He also urged policymakers to update regulations in favor of the industry. His stance has drawn attention from investors and lawmakers alike.
Bitcoin rose to a record high of $121,207.55 during the Asian session. It later traded 1.5% higher at $120,856.34. The cryptocurrency is now up 29% for the year.
The following developments were reported: Investors are betting on long-awaited regulatory clarity.
Crypto-related policy discussions in Washington are gaining momentum.
Bitcoin's rise has sparked gains across the broader cryptocurrency market. Ether, the second-largest token, reached a five-month high. It hit $3,048.23 on Monday before trading at $3,036.24.
The total market capitalization of the sector reached around $3.78 trillion. This figure is based on data from CoinMarketCap.
Analysts noted that market momentum continues despite ongoing global trade uncertainty. Tariff-related developments under Trump's platform have not slowed investor interest in crypto.
The Bitcoin $120,000 milestone comes at a time of growing alignment between crypto industry goals and U.S. political priorities. Observers will closely monitor how the upcoming policy decisions affect the market.
Source: Reuters
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