Bitcoin Surges Past $120,000, Reaching Record High Amid Institutional Boom and Regulatory Optimism

Bitcoin soared to an unprecedented $120,000 on Sunday night, fueled by strong institutional demand and growing optimism around US crypto legislation.

The leading cryptocurrency surpassed the milestone at approximately 11:40 p.m. ET on Coinbase, according to The Block’s price data. At press time, Bitcoin was trading at $120,959, up 2.23% over the past 24 hours.

“This isn’t just another all-time high—it’s a rally backed by undeniable momentum,” said Rachael Lucas, a crypto analyst at Markets. “ETF inflows have exceeded $1 billion daily, and total assets under management have surpassed $150 billion. That means over 6% of Bitcoin’s market cap is now held in ETFs, reflecting deep institutional confidence.”

Lucas noted that Bitcoin’s surge coincides with “Crypto Week” in the U.S., where lawmakers are set to debate pivotal bills like the CLARITY Act and the GENIUS Act—both seen as potential catalysts for the market.

The CLARITY Act aims to define clear regulatory roles for the SEC and CFTC, addressing a long-standing demand from the crypto industry. Meanwhile, the GENIUS Act seeks to establish a legal framework for dollar-backed stablecoins, further strengthening crypto’s foundation in the U.S. financial system.