For trading this Monday, July 14, 2025, the price of Bitcoin reached a record high, exceeding $120,000. This happened hours before the United States House of Representatives was due to consider a bill seeking to provide a regulatory framework for the digital asset industry.

The world's largest cryptocurrency peaked at $122,571 before retreating. The surge also comes as Bitcoin exchange-traded funds (ETFs) are seeing record-breaking gains, reaching $1.18 billion last week, one of their highest so far this year.

According to IG market analyst Tony Sycamore, the crypto asset "is experiencing a number of tailwinds at the moment; its strong moves over the past few months, while it's hard to see where it will stop, it could easily reach $125,000 this year."

Bitcoin has risen 29% so far this year, causing other cryptocurrencies to rally as well. The digital currency market has benefited from the arrival of Donald Trump to the White House, as the self-proclaimed “crypto president” has urged monetary policy regulators to revamp and improve rules in favor of the industry.

For Gracie Lin, CEO of OKX in Singapore, “what we find interesting and are closely following are the signs that Bitcoin is now being seen as a long-term reserve asset, not only by retail investors and institutions, but even by some central banks,” said the expert.

Finally, the second-largest token Ether reached $3,059.60, while XRP and Solana have increased by 3% each, according to data from Coin Market Cap the overall market has increased by $3.81 trillion.