NEW DELHI— Bitcoin, the world’s leading cryptocurrency, soared past the $121,000 mark for the first time on Monday, signaling renewed momentum in the digital asset space. According to data from CoinMarketCap, Bitcoin rose 2.75% in early trading to reach $121,097.94.
The cryptocurrency’s market capitalization climbed to $2.41 trillion, a 2.85% increase, with 24-hour trading volume surging 33.12% to $60.69 billion.
Bitcoin has gained over 29% so far this year, driven largely by institutional buying and favorable macroeconomic trends, according to market analysts.
Ethereum, the second-largest cryptocurrency, also posted gains—rising 3.28% to $3,054.96. Its market cap stood at $368.77 billion, with trading volume at $21.62 billion, as per CoinMarketCap.
Analysts say Bitcoin’s current rally is being powered primarily by long-term institutional investors, who are expected to push its price toward $125,000 in the coming months.
“Institutional demand remains a major driver, with U.S. Bitcoin ETFs surpassing $50 billion in net inflows to date. BlackRock alone holds over $65 billion in BTC, while corporate treasuries continue to accumulate,” said Himanshu Maradiya, Founder and Chairman of CIFDAQ.
Investor optimism is also buoyed by the pro-crypto stance of U.S. President Donald Trump’s administration, which is advocating for a Strategic Bitcoin Reserve and more relaxed ETF approval norms.
“Macroeconomic shifts—like a weaker U.S. dollar, increased demand for U.S. treasuries, and sovereign credit downgrades—are further positioning Bitcoin as a hedge asset,” Maradiya added. “With regulatory clarity improving and Coinbase now listed in the S&P 500, Bitcoin’s standing as a mainstream asset has never been stronger.”
This rally, experts emphasize, is not solely retail-driven. It reflects a broader shift in investment strategy, with Bitcoin increasingly viewed as a valuable component in diversified portfolios.
“Momentum is also being supported by advancements in tokenization, more defined regulatory frameworks, and growing adoption of Web3 infrastructure,” said Kushal Manupati, Regional Growth and Operations Lead for South Asia at Binance.
Meanwhile, the U.S. House of Representatives is set to begin discussions on a series of cryptocurrency bills on Monday, aimed at establishing a clearer regulatory foundation for the industry. (Source: IANS)
