Bitcoin Breaks $120,000 Barrier, Fueled By Trump Support And Institutional Demand

Bitcoin and Trump

Bitcoin breached the $120,000 mark for the first time on Monday, setting a new milestone in the cryptocurrency’s volatile history and highlighting growing investor confidence in digital assets. The world’s largest cryptocurrency soared to a record $122,571.19 before settling at $121,952.61, up 2.4% for the day.

The rally comes amid mounting optimism over regulatory wins, with President Donald Trump reiterating his strong support for crypto and pushing for favorable policy changes. Trump, who has dubbed himself the “crypto president,” continues to influence sentiment among retail and institutional players.

“It’s riding a number of tailwinds at the moment,” said Tony Sycamore, market analyst at IG. “Institutional demand, Trump’s support, and technical momentum are all aligning. It looks like Bitcoin could easily test the $125,000 level.”

Year-to-date, Bitcoin has gained 29%, significantly outpacing traditional assets and sparking a broader rally across the crypto sector. Ether (ETH), the second-largest cryptocurrency, hit a five-month high of $3,059.60, while XRP and Solana each climbed around 3% in the last session.

The total crypto market capitalization surged to $3.81 trillion, according to CoinMarketCap data, indicating widespread market enthusiasm despite macroeconomic uncertainties and Trump’s ongoing tariff battles with global trade partners.

“What we find interesting,” said Gracie Lin, CEO of OKX Singapore, “is that Bitcoin is increasingly seen as a long-term reserve asset — not just by retail or institutional investors, but even some central banks. There’s also a noticeable uptick in Asian investment, particularly from family offices and wealth managers.”

This rally, she emphasized, seems to be less about speculative hype and more about a fundamental shift in the role of Bitcoin in the global financial system.

Highlights:

Bitcoin hits record $122,571, up 29% in 2025.
Trump backs crypto, calls himself the “crypto president.”
Ether tops $3,059; XRP, Solana rise ~3%.
Crypto market cap nears $3.81 trillion, driven by institutional and Asian investor demand.

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