Bitcoin has reached a new all‑time high above $119,000 during Asian trading on Monday, thanks to a bullish sentiment from an increasing number of financial institutions entering the market and anticipation of the “Crypto Week” expected in Washington, kicking off today.
The cryptocurrency with the largest global trading volume last rose 1.8%, to $119,701.8 at 22:34 ET (02:34 GMT). Earlier in the session, Bitcoin had climbed to a high of $119,943.
The latest peak extends the chain of records set the previous week, driven by strong capital flows into ETF funds and clearer regulatory guidance.
Investor sentiment is reinforced by the expectation that the U.S. House of Representatives will discuss a series of significant crypto‑related bills during the “Crypto Week,” including the Genius Act, the Clarity Act, and the Anti‑CBDC Surveillance State Act.
If passed, these measures could establish a comprehensive legal framework for stablecoins, custodial digital assets, and the broader digital financial ecosystem.
Positive sentiment is further supported by strong institutional demand. U.S.-based Bitcoin ETF funds have recorded record inflows, while major asset managers such as BlackRock (NYSE:BLK) and Fidelity continue to expand their cryptocurrency portfolios.
Crypto‑related stocks also reflect Bitcoin’s uptrend, with U.S.‑listed mining companies and ETF‑linked shares such as Riot Platforms (NASDAQ:RIOT), Mara Holdings, and Strategy (NASDAQ:MSTR) recording significant gains the previous week.
This upward momentum was also driven by a strategic meeting by Chinese regulators last week to disseminate stablecoin and digital currency policies among local officials.
The Thursday meeting, organized by the Shanghai state asset regulator, indicated a policy shift in China, where cryptocurrency trading remains prohibited.
