Bitcoin has reached a record high of $122,571, surpassing the $120,000 mark for the first time. The surge comes as investors expect long-sought policy wins for the cryptocurrency industry this week. US President Donald Trump has called himself the “crypto president” and urged policymakers to revamp rules in favor of the industry.
Analysts say strong institutional demand, expectations of further gains, and support from Trump are driving the bullishness. The year-to-date gain of 29% has sparked a broader rally across other cryptocurrencies, with Ether scaling a five-month high and XRP gaining about 3%.
The sector’s total market value has swelled to over $3.81 trillion, according to CoinMarketCap. Experts say signs that bitcoin is being seen as a long-term reserve asset are emerging, particularly from institutional investors and central banks.
These developments come as the US Congress prepares to vote on several bills aimed at providing regulatory clarity for the industry. The week of July 14 has been declared “crypto week,” marking a significant step forward for policymakers.
Source: https://edition.cnn.com/2025/07/14/business/bitcoin-hits-120000-first-time-intl