When exactly did BTC hit $120,000?
So, in the Asian session that happened this Monday, the BTC cryptocurrency was set to a price of $121,207.55. But after a short time, in the last trade, Bitcoin experienced a minor fall back to $121,015.42, which represents about a 1.6% withdrawal.
After some chaotic months, when Bitcoin experienced a few ups and downs, the U.S. House of Representatives will now debate various bills that are focused on offering new perspectives on the overall digital asset industry with a series of new regulatory frameworks.
It should be noted that these regulatory frameworks have been demanded for some time, given the market's instability and the need for complex rules.
An IG market analyst stated to Reuters that the institutional demand "It's riding a number of tailwinds at the moment,".
"It's been a very, very, strong move over the past six or seven days and it's hard to see where it stops now; it looks like it can easily have a look at the $125,000 level,", he also stated.
It’s important to mention that the BTC cryptocurrency experienced a 29% surge this year so far, which represents a remarkable achievement considering the fact that the U.S. President, Donald Trump, has imposed some serious tariffs.
Also, this week, the Washington Congress is set to vote on various bills, such as the Genius Act, Clarity Act, and Anti-CBDC Surveillance State Act.
But of these three bills, the most important for the cryptocurrency industry is the Genius Act, because the Washington Congress is focused on creating some federal rules that would apply to all stablecoins and cryptocurrencies.
Stay tuned to be the first to find out what rulings were made for the cryptocurrency industry!
