Key Takeaways Bitcoin trades at $118,391.27, up 0.70% in 24 hours, maintaining strong support above $118,000.Ethereum surges 7.33% to $3,349.37, pushing market

"Crypto Week" kicks off in the U.S. as lawmakers debate key bills that could reshape digital asset regulation. Here’s what the legislation means for Bitcoin, investors, and the future of crypto in America.

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

The cryptocurrency market is relatively calm on Wednesday as Bitcoin (BTC) attempts to extend its recovery above $119,000, following a sell-off to $115,736 the previous day. Altcoins, including Ethereum (ETH) and Ripple (XRP), offer bullish cues, reflecting steady interest from both institutional and retail traders.

Firms like GameStop and Trump Media are following the Michael Saylor playbook and treating bitcoin as a strategic reserve.

Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.

The double-leveraged XXRP ETF rallied 55% over the last week ahead of the ProShares XRP ETF launch, matching Bitcoin ETFs. A high-profile ETF filing from the Trump Media & Technology Group has added to the buzz around crypto funds during the week.

Key Points Bitcoin just hit a new all-time high of $120,000, primarily on the basis of rising institutional demand.New crypto-friendly policies from the Trump administration are also helping to power Bitcoin higher.