Bitcoin Hits New All-Time High Above $120K as Crypto Week Buzz Builds

Key Points

1. Bitcoin surged to a record high of $120,866, marking a 410x increase over the past decade with an annualized return of 83%.

2. Over $276 million in leveraged positions were liquidated, with $183 million from short traders caught off guard by Bitcoin's sharp rise.

3. US lawmakers are reviewing three major crypto bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance Act, which could impact market regulation and investor sentiment.

4. The total crypto market capitalization stands at $3.86 trillion, supported by ETF inflows and Ethereum's rise above $3,000, while DeFi TVL increased by $20 billion to $176 billion.

5. Bitcoin's resilience despite new US tariffs and rising ETF demand suggests a maturing market and potential for a longer-term uptrend.