Bitcoin Soars Past $120K: Record Highs Ahead of U.S. Crypto Week
Bitcoin Surges Past $120,000 Amid ETF Rally
Bitcoin’s New Highs
Bitcoin has achieved a remarkable milestone, surpassing the $120,000 mark on Monday, driven by a significant uptick in cryptocurrency exchange-traded funds (ETFs). As of 1:27 p.m. Singapore time, the leading cryptocurrency reached a peak of $122,600, according to Coin Metrics data.
This impressive rally is attributed to a surge in investments into Bitcoin ETFs, which recorded their largest inflow day of 2025, totaling $1.18 billion on Thursday. Jeff Mei, COO of cryptocurrency exchange BTSE, stated that the current price surge is largely fueled by institutional investors, predicting that Bitcoin could reach $125,000 within the next month or two.
Mei also noted that while geopolitical tensions, particularly trade disputes involving the U.S. and various countries, might create short-term fluctuations, institutional investors seem to be optimistic about Bitcoin’s long-term value.
Anticipation Surrounding ‘Crypto Week’
Investors are eagerly watching Bitcoin’s trajectory as corporate treasuries ramp up their Bitcoin acquisitions and the U.S. Congress prepares to discuss new cryptocurrency legislation. Dubbed ‘Crypto Week,’ the House of Representatives is set to deliberate on several bills that aim to clarify the regulatory landscape for digital assets.
This legislative effort has garnered support from U.S. President Donald Trump, who has positioned himself as a pro-crypto leader and is involved in various cryptocurrency initiatives. One of the key proposals under consideration is the Genius Act, which seeks to establish federal regulations for stablecoins pegged to the U.S. dollar and create pathways for private entities to issue digital currencies.
Xu Han, director of the Liquid Fund at HashKey Capital, commented that long-term investors are securing their holdings, while the prospect of clearer regulations—especially concerning stablecoins—has enhanced investor confidence and attracted more capital.
Markus Thielen, CEO of 10x Research, expressed hopes that the U.S. might introduce a sovereign wealth fund to invest in digital currencies, which could further influence market dynamics. He highlighted that corporate and institutional investors have poured approximately $15 billion into Bitcoin ETFs over the past six to eight weeks, while retail investors have largely remained on the sidelines during this latest price surge.
Thielen also shared a year-end Bitcoin price target ranging from $140,000 to $160,000, although he cautioned that ongoing hawkish policies from the U.S. Federal Reserve and potential interest rate hikes could pose significant risks to this forecast.
