Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday. The cryptocurrency bellwether rose as much 3.4% to $123,205 before giving up some gains to trade around $121,600 as of 9:19 a.m. in New York. Ether, the second-largest token, also advanced to beyond $3,000, along with a host of smaller coins such as XRP and Uniswap. After surging on the election of Donald Trump to a second US presidential term, Bitcoin had settled into a pattern of fluctuating on either side of $100,000 for several months. Concern about Trump’s political and economic policies had helped to temper optimism over the pro-crypto agenda of his administration. Now with other risk assets such as US stocks back around record highs, Bitcoin has also resumed its push higher. Progress on crucial crypto legislation is adding fresh fuel to the rally. The House will debate and possibly vote this week on the CLARITY Act, the Anti-CBDC Surveillance State Act and the Senate’s GENIUS stablecoin package as Republicans move to advance Trump’s crypto-friendly agenda.

Full report : Bitcoin reached a new all-time high at $122,000 on July 14, up about 30% since December 2024, after more than doubling in value in 2024; Ethereum hits $3,000.