Bitcoin price hits 122k USD, 90k GBP: price of XRP and Ethereum also rise, Crypto Week prediction - news today
Big money, bold moves, and a political shake-up in Washington 🏛️
- Bitcoin has hit a record high of over $122,000 for the first time
- The surge follows growing optimism over pro-crypto US legislation during ‘Crypto Week’
- Major firms like BlackRock and Metaplanet are boosting their Bitcoin holdings
- Other cryptocurrencies including Ethereum, XRP, and Dogecoin are also climbing
- But crypto remains volatile, and experts warn a sudden crash is always possible
The price of Bitcoin has surged past $120,000 (£88,995.60) for the first time ever, hitting a new record of over $122,000 (£90,478.86) in recent trading.
After a few quieter months, the cryptocurrency has taken off again – and it’s not just crypto die-hards getting excited. Everyday investors are starting to pay attention, wondering whether now is the time to jump in or stay on the sidelines.
The price of Bitcoin refers to how much one Bitcoin is currently worth in traditional money, like US dollars or British pounds. It’s the amount someone is willing to pay to buy one Bitcoin at a given moment.
Since Bitcoin is traded on many online exchanges, the price can change quickly depending on how many people are buying or selling it - just like the price of a stock.
But what’s behind this sudden rise? And where could things go from here?
Why is Bitcoin at a record high?
A big part of the current boom comes down to politics. Since Donald Trump returned to the White House, Bitcoin’s price has doubled. That’s largely because traders believe he’s friendly toward crypto and could help open the “floodgates” to wider adoption.
This week is being dubbed “Crypto Week” in Washington, as US lawmakers prepare to vote on a series of major bills that could finally bring clear rules to the crypto world.
If passed, these bills would help define how cryptocurrencies are classified and regulated – a long-awaited step that many in the industry say would make it easier and safer for big institutions to invest.
One of the key proposals, the Genius Act, focuses on so-called “stablecoins,” a type of crypto linked to real-world currencies or assets.
Others aim to set out whether tokens are treated more like stocks or commodities, and one bill would block the creation of a digital US dollar, which some crypto supporters oppose.
Well-known figures in finance have predicted that passing these bills could unlock trillions of dollars in investment, a prediction that may already be playing out.
Big investment firms like BlackRock and Fidelity are increasing their Bitcoin exposure, and new crypto-focused ETFs (exchange-traded funds) are attracting record levels of cash.
In Japan, a hotel group called Metaplanet recently bought nearly 800 more Bitcoins, becoming one of the largest corporate holders of the digital asset. Moves like this are helping to drive confidence across global markets.
There are also signs that other governments may be softening their stance on cryptocurrencies. In China, where crypto trading is banned, a recent policy meeting in Shanghai about stablecoins has raised eyebrows, suggesting a possible rethink is on the horizon.
How are other cryptocurrencies faring?
All this momentum has pushed not just Bitcoin, but many other cryptocurrencies to new highs. Ethereum, the world’s second-largest cryptocurrency, has climbed above $3,000 (£2,224.89).
XRP, Solana, Cardano, Polygon, and even meme coins like Dogecoin are also on the rise. When Bitcoin goes up, it tends to drag the whole market with it.
Will it last?
Crypto has a history of wild ups and downs, and some analysts are warning that a correction – or even a crash – is always a possibility.
After reaching record highs in May, Bitcoin pulled back slightly, but signs suggest that the market may have already shaken off that dip. Trading volume is climbing again, and so-called “momentum indicators” show renewed investor interest.
Still, the risks are real. Prices can swing dramatically based on headlines, tweets, or sudden shifts in regulation. Anyone thinking of investing should be prepared for that volatility.
It’s also worth remembering that Bitcoin and other cryptocurrencies don’t generate earnings or dividends – their value is largely driven by what people are willing to pay.
Is now a good time to invest?
That depends on your financial situation and how comfortable you are with risk. Crypto may still have room to grow if “Crypto Week” brings the regulatory clarity many investors are hoping for.
But if you're looking for something stable or low-risk, this probably isn’t it. If you do decide to dip your toe in, consider starting small, using only money you can afford to lose, and keeping your investments diversified.
Crypto might be booming now, but as history has shown, the only sure thing about this market is that it can change in a flash.
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