Bitcoin hits $123K as U.S. lawmakers debate crypto bills that could reshape digital finance. Altcoins rally, and market cap nears $4 trillion.
In a week that’s already being called “Crypto Week” on Capitol Hill, Bitcoin achieves a staggering milestone—blasting past $123,000 for the very first time in its existence. The rally comes as U.S. legislators are about to debate a package of bills that could redefine the future of digital assets in the United States.
A Political Tailwind for Crypto Markets
The timing of Bitcoin’s rise is no accident. With Congress poised to consider bills like the Genius Act, Clarity Act, and the Anti-CBDC Surveillance State Act, investors are wagering big on a better regulatory environment. President Donald Trump has stoked the excitement by referring to himself as the “crypto president” and pledging his support for innovation in this field.
This political momentum has strengthened retail and institutional investors alike, many of whom view Bitcoin as more than just a speculative asset but also as a long-term store of value.
Institutional Appetite Grows as Bitcoin Reaches New Peaks
In the background, buying from family offices, hedge funds, and central banks is quietly amassing. These players, analysts say, are increasingly looking at Bitcoin as an inflation hedge and a geopolitical risk hedge. With Bitcoin reaching new highs, it’s no longer about the price—it’s about credibility.
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“Bitcoin is emerging as a reserve asset in its own right,” one analyst said. “The story has moved from ‘digital gold’ to ‘digital sovereignty.’
Altcoins Catch the Wave
The rally of Bitcoin has been carrying the entire crypto market upward. Ether rose to $3,059, a five-month high. XRP and Solana recorded slight increases, while total crypto market capitalization rose to $3.81 trillion.
The boom indicates increasing optimism in the industry, particularly with lawmakers mulling clearer guidelines for stablecoins—digital currencies tied to fiat currencies or assets such as gold.
What’s Next as Bitcoin Reaches $123K
As Bitcoin reached $123,000, all the world could think about was the next psychological barrier: $125,000. But price targets aside, the real action is in Washington. If the bills in Congress pass, they have the potential to bring the clarity and confidence necessary to usher in a new age of crypto adoption.
