Bitcoin surges past $120,000 for first time amid hopes for U.S. crypto legislation

Bitcoin soared to a new all-time high today, breaking the $120,000 barrier for the first time, signaling renewed investor confidence and strong capital inflows into the world’s largest cryptocurrency. The surge comes ahead of expected U.S. legislative action that could provide long-awaited regulatory clarity for the digital asset industry.

The U.S. House of Representatives is set to begin debating a series of bills today aimed at establishing a comprehensive regulatory framework for cryptocurrencies. The move has been a key demand from both industry leaders and investors seeking greater legal certainty in a rapidly growing market, according to news reports.

U.S. President Donald Trump, who has branded himself the “Crypto President,” has vocally supported these efforts, calling on lawmakers to modernize financial regulations to accommodate digital assets. Despite the broader economic turbulence stirred by his administration’s new tariffs, Trump’s pro-crypto stance has provided a boost to market sentiment.

Bitcoin’s price has now risen 29 percent since the start of the year, fueling a broader rally across the digital asset market. Ether (ETH), the second-largest cryptocurrency by market capitalization, also climbed to a five-month high, peaking at $3,048.23 before settling slightly lower at $3,036.24.

According to data from CoinMarketCap, the total cryptocurrency market capitalization now stands at approximately $3.78 trillion, reflecting growing institutional and retail interest in the sector.

With the U.S. potentially on the brink of introducing landmark crypto legislation, analysts believe this momentum could extend further, as regulatory clarity often translates into increased adoption and investment.

As the debate unfolds in Washington, all eyes remain on the digital asset markets, which continue to defy traditional volatility patterns and push new frontiers.