Key Insights
- Bitcoin surged past $122,000, becoming the fifth-largest global asset by market capitalization at $2.407 trillion, surpassing Amazon and Google.
- Analysts credit the rally to ETF inflows, favorable macro liquidity, and upcoming U.S. crypto legislation, including the CLARITY and GENIUS Acts.
(MarketsXplora) Bitcoin has surged to an all-time high of $122,500, climbing past Amazon, Silver, and Google to become the world’s fifth-largest asset by market capitalization. The cryptocurrency now commands a market cap of $2.407 trillion, according to data from companiesmarketcap.com.
Only gold ($22.64 trillion), NVIDIA, Microsoft, and Apple remain ahead of the digital asset in total valuation. The latest rally marks the first time Bitcoin has traded above $120,000, reaching its peak in the early hours of Monday, as per CoinMarketCap data.
Vincent Liu, Chief Investment Officer at Kronos Research, attributes the rally to more than just market momentum. “This rally isn’t just momentum, it’s infrastructure-driven,” Liu said. “The rally is being driven by a powerful convergence: institutional inflows through ETFs, policy momentum in Washington, and macro liquidity that’s finally turning favorable.”
Evidence of this institutional surge can be found in U.S. spot Bitcoin ETFs, which have recorded consecutive weeks of positive inflows. According to SoSoValue data, more than $16 billion has poured into these funds in recent weeks, underscoring deep institutional appetite.
Could Bitcoin Hit $150K?
Further bolstering sentiment is anticipation around legislative developments during the so-called “Crypto Week” in Washington, D.C. Lawmakers are expected to deliberate on major crypto-related proposals, including the CLARITY Act and the GENIUS Act, which could further legitimize the space in the eyes of regulators and investors.
Liu noted that Bitcoin could continue its climb if current conditions hold and the market receives a clearer signal of interest rate cuts from the Federal Reserve. “We’re entering a regime where traditional valuation frameworks don’t apply cleanly,” he said. “If ETF demand sustains and rate cut expectations firm up, BTC could test $130K–$150K before year-end. But velocity will depend on whether retail re-engages alongside institutional flows.”
Eugene Cheung, Chief Commercial Officer at the OSL exchange, echoed the bullish outlook, projecting a potential rise to $130,000–$150,000 by the end of 2025.
However, analysts also warn of vulnerabilities. Liu flagged soft retail conviction as a potential risk, noting that while institutional capital is currently driving the rally, the absence of strong retail participation could leave the market exposed. “A stall in ETF inflows or renewed policy uncertainty could disrupt what’s currently a well-structured macro uptrend,” he said.
Bitcoin’s historic rally has lifted the broader crypto market. Ethereum rose 2.71% in the past 24 hours to breach the $3,000 mark. XRP jumped 4.82% to $2.91, while Solana advanced 3.21% to $165.9.
The GMCI 30 Index, which tracks the performance of the top 30 cryptocurrencies, posted a daily gain of 3.6%, signaling broad-based optimism across digital assets.