Bitcoin and Ether hover around all-time highs
In early morning trading Monday, Bitcoin surpassed $120,000 while Ether reached its highest level since 2021
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Cryptocurrencies Bitcoin and Ether both sat around their all-time highs early Monday morning, with Bitcoin surpassing $120,000.
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Ether hovered around $4,340 in early morning trading, while Bitcoin rose above $122,300.
Ether broke $4,000 on Friday for the first time in eight months. Monday’s high marks the crypto's 2025 peak and its highest level since December 2021.
Bitcoin hit an all-time high of more than $123,000 in mid-July after a record-breaking week for the cryptocurrency. It fell at the beginning of August to a price below $115,000 before picking up steam the last few days to nearly reach its old record.
The price hikes have crypto-friendly policies coming out of Washington in part to thank. On Thursday, President Donald Trump signed an executive order that opens the door for 401(k)s to invest in cryptocurrency, private equity, real estate, and other so-called “alternative assets.”
As forex and crypto trackers reported, Bitcoin surged roughly 2% on the news, poking above $116,000. Ethereum followed suit, signaling investor optimism and a potential shift in market psychology.
The U.S. also recently passed the GENIUS Act, a bipartisan bill that establishes the first federal stablecoin framework and requires full backing with reliable assets. That clears some regulatory fog over programmable money systems, boosting investor confidence.
Crypto markets surged during the frenzy surrounding crypto-friendly President Trump’s reelection and inauguration. Bitcoin hit all-time highs, and Ethereum climbed steadily. But Ethereum lagged in the following months, with the Ethereum‑to‑Bitcoin ratio falling to to its lowest since March 2021.
Over $6.7 billion has flowed into U.S.-listed Ethereum spot ETFs this year, while strategic digital‑asset treasury firms have amassed upwards of $12 billion in ETH holdings.
Ether ETFs had $326.83 million inflows compared to $246.75 million for Bitcoin ETFs last week, according to SoSoValue reported by CNBC.
Both cryptocurrencies are up about 28% this year. Bitcoin is up about 96% since this time last year, while Ether has risen nearly 64% since August 2024.
— Shannon Carroll contributed to this article.