Bitcoin (BTC) surged above $122,000 on Monday, gaining more than 3% in a single day and coming within 1% of its all-time high. The rally has been fueled by a wave of pro-crypto regulatory developments, most notably a U.S. executive order that enables 401(k) retirement plans to invest directly in digital assets. This policy shift is seen by market participants as a major step toward mainstream adoption of cryptocurrencies in traditional finance.
Market analysts suggest that BTC is building a strong support base at current levels, with technical charts indicating a possible breakout toward $135,000 in the near term. Traders are closely watching these resistance zones, noting that the market has not been this close to record highs in nearly two years. The broader bullish sentiment is supported by increasing institutional interest and the perception that regulatory risks are becoming more manageable.
Investor confidence has also been buoyed by declining volatility in traditional financial markets, encouraging capital rotation into risk assets such as cryptocurrencies. Some analysts believe that if Bitcoin can decisively surpass its previous peak, it could trigger a new phase of momentum buying, pushing prices into uncharted territory.
