Bitcoin crossed the $120,000 level for the first time on Monday, marking a milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins for the industry this week.
Bitcoin scaled a record high of $122,571.19, before pulling back slightly to last trade 2.4% higher at $121,952.61.
Later in the day, the U.S. House of Representatives will debate a series of bills to provide the digital asset industry with the nation's regulatory framework it has long demanded.
Expectations of further tailwinds for the industry helped propel bitcoin to yet another record high of $121,207.55 in the Asian session on Monday. It last traded 1.5% higher at $120,856.34.
The surge in bitcoin, which is up 29% for the year so far, has sparked a broader rally across other cryptocurrencies over the past few sessions even in the face of Trump's chaotic tariffs.
Ether, the second-largest token, scaled a more than five-month top of $3,059.60, while XRP and Solana gained about 3% each.
The sector's total market value has swelled to about $3.81 trillion, according to data from CoinMarketCap.
Source: Reuters
Bd-pratidin English/ ANI
