Bitcoin Price Today: Surges to $122K, Nearing All-Time High

Cryptocurrency

Bitcoin rose on Monday, extending its strong rebound from the end of last week as crypto markets welcomed U.S. President Donald Trump’s executive order allowing pension funds to invest in the sector.

The world’s second-largest cryptocurrency, Ethereum, also advanced after breaking above $4,000 last week, staying close to record highs reached during the 2021 bull market.

Broader cryptocurrency prices have also climbed since late last week, particularly after Trump’s order.

Bitcoin was up 3.4% at $122,084.1 as of 09:00 (UTC+03). The world’s largest cryptocurrency is now just shy of its mid-July record high above $123,000.

U.S. Regulatory Tailwinds Boost Market
Bitcoin saw strong gains late last week after Trump signed an order instructing regulators to allow savings and retirement plans, such as 401(k)s, to access alternative assets and private equity investments, including cryptocurrencies.

This move opens up a new source of institutional buying for cryptocurrencies and comes amid growing institutional interest in the space.

Leading U.S.-based Bitcoin ETFs recorded three consecutive days of strong inflows following Trump’s order, coinciding with the price spike. However, much of the recent rally occurred during low-liquidity weekend trading, raising questions about the sustainability of current levels.

Last week’s order also followed several other crypto-friendly regulatory actions by Trump’s administration in recent months, the most notable being the passage of a bill establishing a regulatory framework for stablecoins.

Rumble Weighs $1.2B Offer for Tether-Backed Northern Data
U.S. video streaming platform Rumble Inc (NASDAQ:RUM) said Sunday it is considering a $1.17 billion offer for German AI company Northern Data AG (F:NB2).

Stablecoin giant Tether is Northern Data’s largest shareholder and could become Rumble’s largest shareholder if the deal goes through.

Rumble said it is offering 2.319 shares for each Northern Data share, valuing the deal at $18.3 per share and $1.17 billion in total.

If completed, Tether could also become a major Rumble customer through a multi-year commitment to purchase processors from the company. The offer remains largely preliminary and non-binding.

Crypto Prices Today: Altcoins Rise, Ethereum Near Record
The broader crypto market rose on Monday after notable gains late last week.

Ether was up 2.3% at $4,314.89, about $500 shy of its 2021 all-time high.

XRP rose 0.7% to $3.2782 after a sharp jump on news that the SEC and XRP issuer Ripple had reached a settlement to end a long-running legal battle.

Solana gained 2.2%, while Cardano added 1.5%.

Among meme tokens, Dogecoin edged up 0.5%, while $TRUMP fell 1.5%.

See also: "Tron Network Becomes the Absolute Leader in USDT Stablecoin Issuance"

#Bitcoin (BTC) #Crypto Regulations #Price Increase

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