Bitcoin exceeds 120,000 US dollars for the first time

Bitcoin crossed the level of $ 120,000 for the first time on Monday and marked a milestone for the world's largest cryptocurrency, since the investors bet on long-replaced political victories for the industry this week.

Bitcoin scaled a record high of 122,571 US dollars before he has slightly withdrawn to act by $ 2.4% higher by $ 121,953.

Later a day, the US representative house will discuss a number of invoices in order to offer the digital asset industry the country's regulatory framework that has been demanding it for a long time.

These demands have taken on us with US President Donald Trump, who describes himself as a “crypto president” and asked the political decision -makers to revise the rules in favor of the industry.

“At the moment it is a number of tailwind,” said Tony Sycamore, analyst for IG market, in the strong institutional demand, the expectations of further profits and support from Trump as reasons for bullity.

“It has been a very, very, strong step in the last six or seven days and it is difficult to see where it stops now. It looks like it can easily look at the level of $ 125,000,” he said.

The increase in Bitcoin, which has risen by 29% so far, has triggered a wider rally in other cryptocurrencies in the last meetings.

Ether, the second largest token, scales a more than five months $ 3.059.60, while XRP and Solana have increased.

According to CoinmarketCap, the overall market value of the sector has increased to around 3.81 trillion dollars.

“What we find interesting and observe exactly are the signs that Bitcoin is now considered a long-term reserve capacity, not only by retail investors and institutions, but even from some central banks,” said Gracie Lin, CEO from OKX, from OKX.

“We also see an increasing participation of investors based in Asia, including family offices and asset managers. These are strong signs of the role of Bitcoin in the global financial system and the structural change in perception, which indicates that this is not just another hype -oriented rally.”

At the beginning of this month, Washington declared the week of July 14th as a “crypto week”, in which members of the congress should vote on the Genius Act, the Clarity Act and the Anti-CBDC surveillance law. The most important legal template is the ingenious law that would create federal rules for stable coins.