Bitcoin crossed the $120,000 mark for the first time on Monday, hitting a new all-time high. The surge came as hopes grew around upcoming regulatory reforms in the United States. This positive sentiment lifted investor confidence across the entire digital asset market.
During early Asian trading, Bitcoin peaked at $121,207.55. At the time of writing, it was trading at $120,856.34—up 1.5% for the day. So far in 2025, the cryptocurrency has gained nearly 29%.
The rally comes ahead of a key debate in the US House of Representatives. Lawmakers are preparing to discuss a set of bills that aim to regulate the digital asset industry. Analysts believe these proposed changes could help bring legal clarity to a sector that has long operated without clear rules.
Former US President Donald Trump recently voiced strong support for the crypto space. Calling himself the “crypto president,” Trump urged US policymakers to update existing laws. His comments appear to have added fuel to the already growing market momentum.
“The US political shift towards crypto is giving investors new hope,” said Ali Hassan, a Singapore-based digital strategist. He noted that clearer regulations could boost long-term adoption and stability.
The rise in Bitcoin has also helped push other cryptocurrencies higher. Ether, the second-largest digital coin, climbed to $3,048.23—its highest point in over five months.
According to CoinMarketCap, the total market value of all cryptocurrencies now stands at roughly $3.78 trillion. This rise has come despite global economic concerns, including uncertainty over Trump’s new tariff policies.
Traders say the crypto market is beginning to move independently from traditional financial markets. “The focus now is on regulation, not global risk,” said a Hong Kong-based crypto trader.
If passed, the US legislation could mark a major step forward for the crypto sector. However, experts warn the path ahead is not guaranteed, as political divisions remain. Still, the growing discussion itself is seen as a sign of progress for the future of Bitcoin and other digital assets.
Read more: BTC Hits New All-Time High, Eyes $120K as Institutional Interest Grows
