(VOR News) – A spike in Bitcoin’s exchange-traded funds (ETFs) propelled the cryptocurrency’s advances Monday, allowing it to surpass $120,000 and reach a new milestone. The level of Bitcoin had never been this high before.
As per the data provided by Coin Metrics, at 6:20 a.m. Eastern Time, the cryptocurrency with the highest market capitalization was trading at $121,921. It exceeded 112 thousand dollars at the start of the session.
Bitcoin’s recent increase has led to more money flowing into ETFs.
Thursday saw the largest day of inflows into Bitcoin-focused exchange-traded funds (ETFs) in 2025, with $1.18 billion deposited in these funds overall.
“We are of the opinion that the uptick in the value of Bitcoin is being driven by long-term institutional buyers, and we anticipate that this will result in a price of $125,000 within the next month or two,” said Jeff Mei, chief operating officer of the cryptocurrency exchange BTSE, in an interview with CNBC.
Mei made this statement in response to a query from CNBC. He continued by stating that “Trump’s trade disputes with the European Union, Mexico, and other trading partners could result in dips in the week ahead.”
Institutional buyers of Bitcoin, on the other hand, are probably ignoring this risk and sticking to their conviction that the cryptocurrency will continue to grow in the long run.
In the course of Crypto Week,
Investors have been forecasting that this year will see Bitcoin surpass important benchmarks that have already been accomplished.
This is because corporate treasuries are increasing their bitcoin purchases, and the US Congress is moving closer to passing new crypto legislation. These two elements are both contributing considerations.
The United States House of Representatives will start discussing various cryptocurrency efforts this coming Monday, the first day of “Crypto Week,” a temporary period of time. The proposed laws aim to accomplish this goal by creating a more open and transparent regulatory framework for the digital asset sector.
The sector has long sought this plan, and President Donald Trump of the United States of America has approved it. Trump has established himself as a pro-crypto president and owns several cryptocurrency-related businesses.
The Genius Act, which is presently under consideration, may result in the creation of federal protections for US dollar-pegged stablecoins and allow private companies to produce digital currencies. This is one of the most significant stages that are now being discussed.
“Global policy clarity—especially around stablecoins and crypto legislation—has boosted investor confidence and capital inflows, while long-term holders are locking up supply,” said Xu Han, director of the Liquid Fund at HashKey Capital. In response to a query from CNBC, this comment was issued. ”
Consequently, capital has been invested in the cryptocurrency market.”
Markus Thielen, CEO of 10x Research, stated in an interview with CNBC’s “Access Middle East” that he believes the US government will declare the creation of a sovereign wealth fund that can buy digital currencies, which are also categorized as an overhanging factor market.
“I think that’s the case,” said Thielen, who is also the CEO of 10x Research. He noted that institutional and corporate investors have bought about $15 billion worth of Bitcoin-based exchange-traded funds (ETFs) in the last six to eight weeks.
Throughout the discussion, he insisted that retail investors, however, seem to have avoided participating in the most recent rally. According to Thielen, 10x Research has set a projected price range for Bitcoin that is between $140,000 and $160,000 by the end of the year.
However, the Federal Reserve of the United States of America’s continued hawkish policy and the corresponding interest rate hikes brought on by tariffs constitute the biggest threat to this market.
SOURCE: CNBC
SEE ALSO:
Emirates Recognised as the Most Recommended Global Brand for 2025
Long overshadowed by Dubai, Wizz Air will leave Abu Dhabi’s Zayed International Airport.
