Bitcoin Breaks $120,000 as US Crypto Regulation Hopes Fuel Record Rally

Bitcoin surged past $120,000 for the first time on Monday, reaching an all-time high of $121,207.55 in Asian trading before settling slightly lower. The rally reflects growing optimism as the US House of Representatives prepares to debate long-awaited crypto regulation bills, potentially reshaping the industry’s legal landscape.

The debate comes amid rising political support for digital assets, with Donald Trump positioning himself as a key advocate. The former president, who recently declared himself the “Crypto President,” has urged policymakers to modernize regulations in favor of the sector. His pro-industry stance has added fuel to the market’s upward momentum, despite broader economic uncertainties.

The bullish sentiment has spread beyond Bitcoin, with Ether (ETH) climbing to a five-month peak above $3,000. The total cryptocurrency market capitalization has now ballooned to $3.78 trillion, according to CoinMarketCap, signaling renewed investor confidence.

With US lawmakers set to discuss key regulatory frameworks, the crypto market could see even greater volatility—and potential gains—this week. Will Bitcoin’s rally continue, or will profit-taking kick in? One thing is clear: 2024 is shaping up to be a landmark year for digital assets. #CryptoNews #BitcoinATH #Trump2024 #Blockchain