Bitcoin continued its record-breaking streak this month, surpassing $119,000 per coin on Sunday and once again setting an all-time high. The market is closely monitoring the Trump administration’s new pro-cryptocurrency legislation.
According to U.S. cryptocurrency exchange Coinbase, Bitcoin was trading at $119,049 per coin as of 11:22 a.m. Eastern Time on Sunday, up 1.37% from the previous 24 hours.
This marks Bitcoin’s first venture above the $119,000 level. The cryptocurrency had previously broken the $112,000 barrier on July 9, surpassing its previous record set on May 22. It then climbed to the $118,800 level on July 11.
Concurrently, Ethereum, the second-largest cryptocurrency by market cap, rose 2.5% to reclaim the $3,000 level. XRP (Ripple) traded at $2.87, up 5.84%. With its recent gains, XRP has overtaken the stablecoin Tether to become the third-largest cryptocurrency by market capitalization. Solana and Dogecoin also saw gains of 2.54% and 3.89%, trading at $163 and $0.20, respectively.
On July 10, French Hill (R-AR), Chairman of the House Financial Services Committee, announced that July 14-18 would be designated as Cryptocurrency Week in the House of Representatives. The House will consider three cryptocurrency bills, including the GENIUS Act for stablecoin regulation. The market believes that the passage of these bills could accelerate the Trump administration’s cryptocurrency-friendly policies.
