Bitcoin Breaches $124K For First Time Ever Amid Trump’s Regulatory Wins and Fed Signals

Bitcoin hit a fresh record on Thursday, climbing as much as 0.9% to $124,002.49 in early Asia trading, surpassing its previous July peak.

The rally coincided with the second-largest crypto asset, ether, reaching $4,780.04, its highest level since late 2021.

Bitcoin Hits New Peak Amid Policy Shift and Institutional Demand
According to IG market analyst Tony Sycamore, Bitcoin’s upward momentum is fueled by “increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets.” In a note, he added: “Technically a sustained break above $125k could propel BTC to $150,000.”

Trump Administration’s Pro-Crypto Moves

President Donald Trump, who has dubbed himself the “crypto president,” has championed a friendlier regulatory framework since returning to the White House. His administration’s recent executive order allows crypto assets in 401(k) retirement accounts, opening a fresh channel for mainstream adoption.

Over the past year, the U.S. has passed stablecoin regulations and overhauled securities rules to better accommodate digital assets. These changes have been hailed as long-sought victories by the crypto industry.

Market Boom Since Trump’s Election Win
Bitcoin has jumped nearly 32% in 2025, riding on these regulatory wins. The overall crypto market capitalisation has surged to over $4.18 trillion, up from about $2.5 trillion in November 2024, when Trump secured his presidential comeback, according to CoinMarketCap data.

The latest executive order could particularly benefit asset management giants like BlackRock and Fidelity, which already operate crypto exchange-traded funds (ETFs).

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Risks Linger Despite Optimism
While crypto’s inclusion in retirement savings is seen as a breakthrough, analysts caution about its volatility compared to traditional retirement portfolio staples like stocks and bonds. For now, however, optimism continues to drive the market higher, and traders are eyeing the $150,000 mark for Bitcoin’s next potential milestone.
 

(With Inputs From Reuters)