Bitcoin hits $123,000, triggered by Crypto Week

The price of Bitcoin continues to break records. The cryptocurrency's price traded above $123,000, setting a new record on Monday.

The rally is supported by “crypto week,” during which U.S. House leaders will debate several cryptocurrency-related bills.

The largest cryptocurrency by market capitalization closed at $119,967.3 per unit, representing an increase of 1.16 percent. Early Monday morning, Bitcoin traded as high as $123,104.7 but subsequently declined.

During 2025, the cryptocurrency registered a 28.3 percent increase. Since January 10, 2024, the date on which the U.S. Securities and Exchange Commission (SEC) approved several spot bitcoin ETFs, it has increased by 160.1 percent.

Another cryptocurrency that also performed positively was Ethereum, the second-largest virtual currency by market capitalization, with a 1.55% gain to $3,005.26.

Cryptocurrencies such as Solana continue to gain 0.76% to $162.1 per unit, followed by Cardano, which gained 0.16% to $0.73.

Starting this Monday, the U.S. House of Representatives is debating a series of bills to provide the digital asset sector with the national regulatory framework it has long demanded.

These demands have resonated with US President Donald Trump, who has called himself the "crypto president" and urged monetary leaders to revamp industry-friendly rules.

"Right now, it's riding a number of tailwinds," said IG Market Analyst Tony Sycamore, citing strong institutional demand, expectations for higher earnings, and Trump's support as reasons for optimism.

"It's been a very, very strong move over the last six or seven days, and it's hard to see where it stops now; it looks like it could easily go to the $125,000 level," he said.

Gildardo Herrera, director of Strategy and Operations for Latin America at Bitget, a cryptocurrency exchange and web company, explained that the move was driven by optimism surrounding regulatory progress in the United States, with Congress.

“The debate on key bills for the crypto sector, including the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act, is expected to bring greater regulatory clarity and attract even more institutional capital to the market,” he explained in a statement.

He asserted that Bitcoin is going through a historic moment, driven by regulatory, institutional, and macroeconomic factors, in an environment of expansionary monetary policy in the United States and a growing search for scarce assets, which favors Bitcoin.

Before taking office, Trump was a tireless promoter of crypto assets, even proposing that Bitcoin be included in the United States' reserves. (With information from agencies).

Bitcoin ETFs rise 175% since listing

The momentum is steady. As digital assets continue to post strong gains, investor interest continues to grow, with Bitcoin exchange-traded funds (ETFs) becoming a favorite.

Since Bitcoin ETFs began trading in the United States on January 11, 2024, they have seen gains of up to 175 percent.

The price of the leading cryptocurrency, Bitcoin, has increased by 160% since its close on January 10 of last year, reaching $119,967.30.

Of the 11 exchange-traded funds, VanEck (Vaneck Bitcoin Trust) gained 173.63%, followed by Franklin Templeton (Franklin Bitcoin) with 173.29% to $69.48.

Fidelity (Fidelity Wise Origin Bitcoin) also reported a rise of 173.06%, as well as WisdomTree (WisdomTree Bitcoin) registered a gain of 172.92%, trading at $127.59.

This list continues with Invesco Galaxy (Invesco Galaxy Bitcoin) improving 172.89 percent, Ark Invest (ARK 21Shares Bitcoin) rising 172.71 percent, and Valkyrie Bitcoin reporting an increase of 172.01 percent.

Ethereum ETFs are not so lucky.

For its part, the cryptocurrency, Ethereum, has gained 16.51% and is trading at $3,006.73.

The good times are coming as major investment firms continue to expand their exposure, awaiting regulatory approval and long-term value appreciation; however, Ethereum ETFs have not been so fortunate. Since their stock market debut on June 23 of last year, they have been declining.

The Grayscale Ethereum Trust (ETH) is down 11.31%, the Invesco Galaxy Ethereum is down 10.24%, and the 21Shares Core Ethereum is down 10.24%.

Seven countries and five autonomous regions operate bitcoin ETFs. Hong Kong, China's autonomous region, was the latest to accept this type of investment vehicle, in the middle of last year.

The United States, Canada, Brazil, Germany, Australia, and Switzerland, as well as tax havens such as Bermuda, the Principality of Liechtenstein, and the Channel Islands of Jersey and Guernsey, are part of the list. In total, they offer 33 spot Bitcoin ETFs.

Since the announcement that cryptocurrency ETFs were listed on Wall Street, the price of this "virtual" currency began to rise in late 2023.