Bitcoin Soars to Record High Above $122,000 as 'Crypto Week' Kicks Off

Institutional demand and regulatory optimism fuel rally—investors eye next move after historic surge

Bitcoin Hits Fresh All-Time High

Bitcoin surged to an all-time high of $122,562 in Asian trading on Monday, buoyed by growing institutional interest and anticipation ahead of "Crypto Week" in Washington. As of 05:48 GMT, the world’s leading cryptocurrency was trading at $122,467, up 3.9% on the day.

What’s Driving the Bitcoin Boom?

Institutional Demand Keeps Growing

The latest push higher followed news that Metaplanet Inc, a Japanese hotelier-turned-bitcoin treasury firm, added another 797 BTC, bringing its holdings to 16,352 coins. This makes it the fifth-largest corporate Bitcoin holder globally.

Big names like BlackRock and Fidelity continue to boost their crypto allocations, while spot Bitcoin ETFs in the US are seeing record inflows.

US Crypto Regulation in Focus

The rally is also fuelled by investor optimism over possible crypto-friendly regulation. This week, the US House of Representatives will debate key bills including:

• Genius Act
• Clarity Act
• Anti-CBDC Surveillance State Act

These bills aim to bring clear rules for stablecoins, digital asset custody, and the broader crypto economy—moves which could solidify the market’s legitimacy and attract more institutional capital.

China Softening Stance?

A recent strategic briefing in Shanghai by a major Chinese regulator may hint at a softening approach to digital currencies. Although crypto trading remains banned, policy shifts in China could impact future market sentiment globally.

Altcoins Rally in Bitcoin’s Wake

Bitcoin’s rise has lifted other major cryptocurrencies:

• Ethereum rose 2.6% to $3,027.80 (highest since February)
• XRP jumped 5.8% to $2.93
• Solana, Cardano, and Polygon gained between 3% and 5%
• Dogecoin added 3.4%, and $TRUMP rose 1.6%

Could Bitcoin Climb Even Higher?

Bullish Momentum

Technical indicators suggest Bitcoin's correction phase may be over, according to analysts at IG. July trading volumes are rebounding, possibly on track to match or exceed May’s highs.

With institutional flows strong and regulatory clarity on the horizon, Bitcoin could test further highs in the $125,000–$130,000 range if momentum holds.

Risks to Watch

However, failure to pass supportive legislation in the US, or negative global macro developments, could trigger a pullback. Traders should also monitor volatility and ETF flows closely.

Investment Outlook

For investors:

• Short-term traders may find upside momentum into Crypto Week, but should beware of sharp reversals tied to political headlines.
• Long-term holders could benefit from continued institutional adoption and favourable regulation, especially if ETFs gain further traction.
• Altcoin exposure may offer higher risk/reward profiles in the near term, especially in tokens with institutional support.

Source: (Investing.com)