Bitcoin Hits Record High Over $123,000 Amid Crypto Market Surge and U.S. Legislative Momentum
Ethereum surpasses $3,000 as investor confidence soars ahead of U.S. crypto regulation reforms championed by Trump.
Watan-Bitcoin reached an unprecedented milestone on Monday, surpassing $123,000 for the first time before slightly retreating in later trading. Ethereum, the second-largest cryptocurrency after Bitcoin, also broke a key threshold, climbing past $3,000, reflecting growing investor confidence and anticipation of favorable political developments this week.
The rally comes as the U.S. House of Representatives began debating long-awaited legislation aimed at providing a comprehensive regulatory framework for digital assets.
These developments have received strong support from former President Donald Trump, who refers to himself as the “Crypto President.” Trump has been pushing policymakers to modernize regulations to support the digital asset industry.
Bitcoin has gained approximately 29% year-to-date, triggering a broader resurgence across the crypto market despite volatility sparked by Trump’s controversial tariff measures.
Other notable moves in the market include:
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Ethereum (ETH) surging to a 5-month high at $3,059.60
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XRP and Solana (SOL) both increasing by nearly 3%
Susannah Streeter, an analyst at Hargreaves Lansdown, commented:“Trump has been one of the strongest advocates for crypto, and his promises may soon translate into legislation. This could encourage more companies and financial institutions to hold digital assets.”
She added that speculative interest is also being driven by:“Worries over the unsustainable U.S. fiscal outlook and the declining credibility of the dollar.”
Bob Savage, an analyst at Bank of New York Mellon, pointed out that Bitcoin has also been buoyed by:
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Inflows into exchange-traded funds (ETFs) tracking crypto
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Increased institutional investment
