Bitcoin climbed to a fresh all-time high of more than $121,000 on Monday, buoyed by optimism over growing institutional adoption and ahead of a highly anticipated "Crypto Week" in Washington, starting later in the day.
The latest peak follows a string of record highs reached last week, fueled by strong ETF inflows and regulatory clarity.
Investor sentiment has been propelled by expectations that the U.S. House of Representatives will debate several landmark crypto bills during "Crypto Week," including the Genius Act, Clarity Act, and the Anti‑CBDC Surveillance State Act.
If passed, these measures could establish comprehensive regulatory frameworks governing stablecoins, crypto asset custody, and the broader digital financial ecosystem.
Boosting the bullish mood, institutional demand remains robust. U.S. spot bitcoin ETFs have enjoyed record-breaking inflows, and prominent asset managers such as BlackRock and Fidelity continue to expand their crypto holdings.
Crypto-related equities echoed Bitcoin’s ascent, with U.S.-listed miners and ETF-linked stocks like Riot Platforms, MARA Holdings, and Strategy showing notable gains last week.
The surge was also attributed to a major Chinese regulator holding a strategic session last week to brief local officials on stablecoin and digital currency policy.
The Thursday meeting, organized by Shanghai’s state asset regulator, signaled a shift in China’s policy, where crypto trading is banned.