Representations of Bitcoins resting on U.S. greenback banknotes
Maeva Destombes | Afp | Getty Pictures
Bitcoin prolonged features Monday to hit a brand new milestone, breaking previous $120,000, fueled by a rally within the cryptocurrency’s ETFs.
The worth of the most important cryptocurrency by market capitalization topped $122,600 at 1:27 p.m. Singapore time, based on knowledge from Coin Metrics.
The rally has seen bitcoin attain new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their greatest day of inflows in 2025 at $1.18 billion.
“We consider that Bitcoin’s surge is pushed by longer-term institutional consumers and it will propel it to $125k within the subsequent month or two,” Jeff Mei, chief working officer at cryptocurrency alternate BTSE, stated in an announcement despatched to CNBC.
“Trump’s commerce disputes with the likes of the EU, Mexico, and different buying and selling companions might trigger dips within the week forward, nevertheless it’s possible that Bitcoin’s institutional consumers are discounting this threat and sustaining their positions that Bitcoin will nonetheless admire in the long term,” he added.
Bitcoin hits recent highs, passing $120,000
Buyers have been anticipating bitcoin to hit new records this yr as company treasuries accelerate their bitcoin buying sprees and U.S. Congress nears the passing of latest crypto laws.
The U.S. Home of Representatives will begin deliberating on a series of crypto payments on Monday geared toward offering a clearer regulatory framework for the digital asset business.
The coverage had been lengthy sought by the business, and is supported by U.S. President Donald Trump, who has branded himself as a pro-crypto President and is concerned in a number of crypto ventures.
One of the crucial vital payments into account is the Genius Act, which might set up federal guardrails for U.S. dollar-pegged stablecoins and create a pathway for personal corporations to situation digital {dollars}.
“Lengthy-term holders are locking up provide, whereas international coverage readability — particularly round stablecoins and crypto laws — has boosted investor confidence and capital inflows,” Xu Han, director of the Liquid Fund at HashKey Capital, stated in an announcement to CNBC.
Talking on CNBC’s “Entry Center East,” Markus Thielen, CEO of 10x Analysis, additionally stated that the U.S. could announce a sovereign wealth fund that could include purchasing digital currencies.
He famous that company and institutional traders have bought $15 billion in Bitcoin ETFs over the past six to eight weeks. In distinction, retail traders seem to have been on the sidelines through the newest rally, he added.
10x Analysis has a year-end Bitcoin goal vary of $140,000 to $160,000, Thielen revealed, however essentially the most vital threat dealing with this stays the U.S. Federal Reserve persevering with its hawkish coverage and additional rate of interest hikes as a consequence of tariffs.
