Bitcoin beats Amazon in market value; Crypto breaches $120,000 to hit new peak
ADVERTISEMENT Bitcoin rose as much as 1.5% in Asian trading to hit a new all-time high of $121,207.55. It was last quoted at $120,856.34, bringing its year-to-date gains to 29%. Ether, the second-largest token, also advanced, touching a five-month peak of $3,048.23 before easing to $3,036.24. The total digital asset market now stands at approximately $3.78 trillion, according to CoinMarketCap.The rally coincides with the start of a pivotal week in U.S. legislative circles. Beginning Monday, the House of Representatives will debate several bills including the CLARITY Act, Anti-CBDC Act, and GENIUS Act—proposals designed to give digital assets a clearer regulatory status and restrict the Federal Reserve from issuing central bank digital currencies.
U.S. President Donald Trump, who has described himself as the 'crypto president,' has openly backed the digital asset industry and urged Congress to overhaul outdated rules."Bitcoin has smashed past $121,000, marking fresh all-time highs as institutional demand and policy tailwinds fuel the rally," said Himanshu Maradiya, Founder & Chairman of CIFDAQ. 'The latest surge follows last week's 10% rise, with over $289 million in short liquidations amplifying momentum. Bitcoin ETFs saw $1.2 billion in inflows on Thursday and $1.03 billion Friday, pushing total US ETF net inflows beyond $50 billion to date.'Maradiya noted that the growing alignment between pro-crypto policies, macro uncertainty, and the increasing accessibility of regulated investment vehicles is 'rapidly solidifying' Bitcoin's position as a mainstream asset.
ADVERTISEMENT Nigel Green, CEO of financial advisory major deVere Group, said that Bitcoin could climb to $125,000 within days as market forces and political momentum converge.'Bitcoin has blasted through $122,000, and all the indicators point to $125,000 in sight this week,' Green said in a press release. 'It's being powered by deep political backing, new regulatory clarity, and sustained institutional inflows. This is a powerful combination we haven't seen at this scale before.'
ADVERTISEMENT He highlighted the GENIUS Act in particular as a landmark measure that would create a national framework for stablecoins, one of the most significant regulatory steps by the U.S. to date.'This is not crypto on the fringe anymore,' Green said. 'This is front and center of US financial policy. Trump is championing it, lawmakers are acting on it, and Wall Street is all-in.'
ADVERTISEMENT Green said flows into US-listed spot Bitcoin ETFs have reached record levels, with asset managers like BlackRock and Fidelity continuing to scale up their exposure.'Wall Street has crossed the Rubicon,' he said. 'The capital is committed. The infrastructure is there. The political will is building. The market is responding exactly as we expected.'The deVere group, which has previously projected Bitcoin to hit $150,000 in this market cycle, said that view remains intact, though short-term volatility is expected.
ADVERTISEMENT 'The trajectory to $150K is intact, but investors should expect a sharp move to $140K, then a healthy sell-off before we power higher,' Green said. 'Investments of this magnitude don't move in straight lines. They surge, cool, consolidate, then break out again. That's the phase we're entering.'Bitcoin's market capitalisation now stands at $2.43 trillion, surpassing Amazon and trailing only a handful of publicly traded giants. Gains in crypto-linked stocks, including U.S.-listed miners and ETF proxy plays, have also intensified in recent weeks.'The scale of capital entering the space is rewriting the map,' said Green. 'This isn't hype. This is asset reallocation on a global level.''The $125K milestone is within reach now, and when it comes, it will confirm what we've been saying: that Bitcoin is not only back, but can be expected to break through every ceiling put in front of it if the momentum continues,' said Green.
Also read | Bitcoin surges past $120,000 to fresh all-time high
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