Bitcoin Breaks Barrier: Surpasses $120,000 to Set New All-Time High
Bitcoin, the world’s largest cryptocurrency, hit a new all-time high on Monday, crossing the $120,000 mark for the first time. The price peaked at $123,153 before retreating slightly to $119,750, according to a report by Reuters.
The digital asset has already gained 27 percent in value so far this year, with analysts attributing the latest surge to ongoing discussions in the U.S. Congress over new cryptocurrency legislation.
The rally is also being fueled by President Donald Trump’s pro-industry stance and the prospect of regulatory flexibility, which have created positive momentum in the market. The Republican Party has declared this week as “Crypto Week.”
As a result, the total market capitalization of cryptocurrencies has climbed to $3.8 trillion. Other major digital currencies have also seen gains, with Ether reaching $3,081 and XRP rising by approximately 2.7 percent.
