As of 1 p.m. on the 14th, Bitcoin was trading at $121,004, up 2.76% from 24 hours ago on CoinMarketCap, a global coin market relay site.
Bitcoin has been trading around $120,000 all morning, but after breaking through the resistance level of $120,000 a few minutes ago, it has been trading at 121,000.
It even surpassed the 3000 dollar line. When the resistance line collapsed, Bitcoin surged. Other cryptocurrencies were also rallying in unison. Ethereum, the second largest cryptocurrency by market capitalization, rose 2.88% to 300,000 yen.
It is trading at $41. Ripple, the third largest cryptocurrency by market capitalization, also surged 5.62% to $2.92.
Not only that, Stellar, the 12th largest cryptocurrency by market capitalization, surged 19.70% to 50 cents.
Hedera, the 15th largest cryptocurrency by market capitalization, surged 27.02% to 25 cents. Among altcoins, Stellar and Hedera showed the largest increases.
The reason cryptocurrencies are rallying en masse is because this week has been designated "Crypto Week" by the U.S. House of Representatives.
The House of Representatives has designated this week as Cryptocurrency Week, and is working to set a regulatory framework for the industry.
The Trump administration has been pushing for crypto-friendly regulations and laws in line with the president's ambition to make the United States the crypto capital of the world.
Trump has encouraged the cryptocurrency industry, saying, "If we don't have it, China will."
2025/07/14 14:07 KST
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