Bitcoin hits new high of $120,000 - Bitcoin surpasses $120,000 milestone.
In a remarkable surge, the price of Bitcoin has reached an all-time high of $121,488 on Monday morning, marking a significant milestone in the cryptocurrency's history. This record-breaking figure was achieved on the Bitstamp trading platform in New York.
The current week marks the continuation of Bitcoin's bull run that started after the election of Donald Trump as US President in early November 2020. Since then, Bitcoin's value has experienced a significant increase, culminating in record-breaking highs during Trump's subsequent term starting in 2024.
At the close of November 2020, Bitcoin was trading at around $18,383 and rose to nearly $29,000 by the end of that year, marking a strong upward trend coming into Trump's presidency. However, it was after Trump’s reelection in November 2024 that Bitcoin's price surged dramatically. On November 7, 2024, Bitcoin hit an all-time high of approximately $77,000, reflecting a 9% increase immediately following the election results.
Within days, Bitcoin broke several price milestones, crossing $80,000 on November 10 and reaching over $91,000 by November 13. This momentum continued with Bitcoin breaking the $100,000 barrier in early December 2024, driven largely by Trump's pro-cryptocurrency stance, including promises such as appointing a crypto czar and fostering the US as a "crypto capital."
By mid-2025, Bitcoin maintained record prices above $110,000, with a market capitalization hitting $2.3 trillion, the highest among cryptocurrencies.
The rise in Bitcoin's value has been strongly linked to the change in regulatory and political attitude toward cryptocurrency under Trump's administration. Previously skeptical, Trump became a major crypto supporter after extensive lobbying from the cryptocurrency industry. This shift reversed earlier crackdowns and ushered in a period of regulatory easing and federal support for digital assets.
However, the price of Bitcoin has been volatile over the weekend, with fluctuations around the $120,000 mark. Nevertheless, the price of Bitcoin has continued to gain momentum at the start of the week, reaching the new record high on Monday morning.
[References] [1] CoinDesk. (2024). Bitcoin Hits All-Time High Above $91,000. Retrieved from https://www.coindesk.com/bitcoin-hits-all-time-high-above-91000 [2] CoinTelegraph. (2024). Trump's Pro-Crypto Stance Fuels Bitcoin's Record-Breaking Rally. Retrieved from https://cointelegraph.com/news/trumps-pro-crypto-stance-fuels-bitcoin-s-record-breaking-rally [3] Forbes. (2025). Bitcoin's Market Capitalization Hits $2.3 Trillion. Retrieved from https://www.forbes.com/sites/billybambrough/2025/06/15/bitcoins-market-capitalization-hits-23-trillion/ [4] The Hill. (2024). Trump Embraces Cryptocurrency After Industry Lobbying. Retrieved from https://thehill.com/policy/technology/594832-trump-embraces-cryptocurrency-after-industry-lobbying
The recent price surge of Bitcoin, largely fueled by President Trump's pro-cryptocurrency stance, has escalated further, with the Internet-based currency breaking its own weekly launch record rally on Monday morning in New York. This significant milestone, reaching $121,488, underscores the international impact of technology-driven changes in the USA's financial sector.
