Bitcoin crosses $120,000 for the first time

SINGAPORE, July 15, 2025 — Bitcoin crossed the $120,000 mark for the first time in history on Monday, setting a new all-time high as optimism builds over long-awaited U.S. crypto regulations and growing support from political leaders.

The world's largest cryptocurrency hit an intraday peak of $121,207.55 during the Asian trading session and was last seen trading 1.5% higher at $120,856.34.

Trump Backs Crypto, Sparks Rally

Investor confidence soared after U.S. President Donald Trump, who has dubbed himself the “crypto president,” reaffirmed his support for a friendlier digital asset policy. His administration is pushing for regulatory clarity that the industry has demanded for years.

Starting Monday, the U.S. House of Representatives began discussions on a package of bills aimed at formalizing crypto regulations — a move that could finally give the market the legal framework it has been waiting for.

“These policies could be a turning point,” said Ravi Malhotra, a Singapore-based crypto analyst. “Institutional investors are clearly optimistic, and that’s helping fuel this rally.”

Wider Crypto Market Surges

Bitcoin’s rally has ignited broader gains across the crypto market. Ether, the second-largest cryptocurrency, surged to a five-month high of $3,048.23 before settling around $3,036.24.

According to CoinMarketCap, the total market capitalization of all cryptocurrencies rose to around $3.78 trillion, highlighting strong investor interest despite geopolitical uncertainties and tariff tensions.

“While Trump’s trade policies remain unpredictable, his pro-crypto stance is being taken very seriously by the market,” said Leah Wong, a Hong Kong-based trader.

Bitcoin’s Strong 2025

Bitcoin is up nearly 29% in 2025 so far, driven by a combination of rising institutional interest, anticipation of regulatory reforms, and strong investor sentiment.

Even amid economic volatility and global uncertainty, digital assets have proven resilient. Many investors now view bitcoin as a potential hedge against inflation and economic instability.

“Bitcoin is not just about hype anymore — it’s about utility, adoption, and clear policy support,” Wong added.

What’s Next?

Analysts say Bitcoin’s path to $130,000 or higher could depend on how the U.S. bills progress through Congress and whether institutions continue to ramp up buying.

“The $120K milestone is psychological, but it also sends a message to regulators: crypto is here to stay,” said Malhotra.

Fact Box