Bitcoin surged past $120,000 for the first time on Monday, reaching an all-time high of over $123,000, as investors optimistic about upcoming regulatory clarity push the cryptocurrency to new heights. The record-breaking price comes ahead of a series of cryptocurrency bills set to be considered by lawmakers this week. Republicans in Congress have embraced digital assets and are advancing legislation that could provide much-needed regulatory framework for the industry. If passed, these bills would establish procedures for firms issuing stablecoins, reserve requirements, and regulatory standards for issuers. Analysts attribute the price surge to a weaker US dollar and potential benefits from Congressional consideration of crypto legislation.
Source: https://www.foxbusiness.com/markets/bitcoin-breaks-120000-price-record-lawmakers-begin-crypto-week-washington