Bitcoin Leaps Past $120,000 For First Time In History As Bulls Prepare For Crucial Week In US Congress

Bitcoin soared over $120,000 on Monday for the first time in history, as investors remained optimistic about favorable policy moves in Washington, D.C., this week.

The most valuable cryptocurrency, in terms of market valuation, stood at $122,470.60 at the time of writing, amid a surge in Bitcoin ETF flows. According to a CNBC report, Bitcoin ETFs registered the largest day of inflows in 2025 last week, with investors pouring $1.18 billion into the market on Thursday.

According to a Bloomberg News report, George Mandres, a senior trader at XBTO Trading, said that the latest movement signals a “maturing perspective on Bitcoin — not merely a speculative asset, but a macro hedge and a structurally scarce store of value.”

Earlier this month, Washington designated the week starting July 14 as Crypto Week, during which Congress members could vote on several bills, including the Genius Act and the Clarity Act, which aim to provide regulatory relief for cryptocurrency trading. The moves in the U.S. Capitol are consistent with the viewpoints of President Donald Trump, who has called himself the “Crypto President.”

Retail sentiment on Stocktwits about Bitcoin was in the ‘extremely bullish’ territory, while message volume was ‘high.’

According to a CNBC report, Jeff Mei, chief operating officer at cryptocurrency exchange BTSE, said that while downside risks to Bitcoin remain amid trade disputes between the U.S. and the likes the EU, Mexico, and other trading partners, it’s likely that “Bitcoin’s institutional buyers are discounting this risk and maintaining their positions that Bitcoin will still appreciate in the long run.”

Retail traders on Stocktwits were wondering what the limit of the recent bull run would be.

One retail trader said, “122k taken, 123k wall next. Big bids building from 119-121k. Might get crazy.”

Fund managers such as Ark Investment Management’s Cathie Wood and FundStrat’s Tom Lee are uber-bullish about Bitcoin. Lee expects the crypto to top 150,000 this year.

Bitcoin has surged nearly 31% this year compared with 5.8% gains of the SPDR S&P 500 ETF (SPY).

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