FX.co ★ Bitcoin Rallies to $122K

Bitcoin experienced a notable increase of over 2%, reaching approximately $122,000 on Monday. This rise approaches new all-time highs following a month-long period of consolidation. The uptrend was driven by positive developments emerging from Washington. Analysts pointed to reports suggesting that US President Donald Trump might issue an executive order permitting the inclusion of cryptocurrency investments in 401(k) retirement plans. Such a move could potentially unlock access to as much as $9 trillion in funds for the cryptocurrency markets. Additional positive influences were noted from robust ETF inflows and heightened bitcoin acquisitions by companies supported by substantial treasuries. Michael Saylor, Executive Chairman of MicroStrategy, announced on social platform X this past Sunday that the company intends to increase its bitcoin holdings, currently valued at $76.8 billion. Additionally, investors are closely monitoring upcoming US inflation data scheduled for release this week, which could impact the Federal Reserve’s future policy direction.