Bitcoin hits another all-time high at $123,000, beats Amazon to become the 5th largest asset by market cap

• According to data from companiesmarketcap.com, Bitcoin’s current market capitalisation stands at $2.407 trillion.
• Bitcoin reached a new all-time high of $123,091.61 on Monday, as per CoinMarketCap data.
• Just last week, the BTC ETFs saw two days with over $1 billion in inflows.

Bitcoin surged past the $120,000 mark for the first time earlier on Monday , driven by sustained institutional demand, strong exchange-traded fund (ETF) inflows, and renewed optimism surrounding upcoming US crypto legislation.

The world’s largest cryptocurrency was last seen at $122,559, up 3.23% at the time of writing.

Earlier, it reached a new all-time high of $123,091.61, as per CoinMarketCap data.

Over the past five days, Bitcoin has gained approximately 12%, extending its rally to a 103% increase compared to the same time last year.

According to data from companiesmarketcap.com, Bitcoin’s current market capitalisation stands at $2.407 trillion, making it the fifth-largest asset globally, ahead of Amazon, Silver, and Google.

Only Gold, NVIDIA, Microsoft, and Apple command higher market values.

ETF flows signal institutional conviction

Spot Bitcoin ETFs in the United States have pulled in $16.2 billion in cumulative inflows since April, according to data from SoSoValue.

The rise in ETF demand comes amid a broader shift among asset managers and hedge funds seeking exposure to Bitcoin as part of a diversified macro allocation.

Just last week, the BTC ETFs saw two days with over $1 billion in inflows.

On Thursday, US spot BTC ETFs registered $1.18 billion inflows , which were followed by a $1.02 billion inflow on Friday.

Crypto Week in Washington fuels optimism

This week marks the beginning of the  “Crypto Week” in Washington, D.C., where lawmakers are expected to debate and possibly advance two key pieces of legislation: the CLARITY Act and the GENIUS Act.

The CLARITY Act aims to establish a formal regulatory framework for cryptocurrencies, clarifying jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—a longstanding demand of the crypto sector.

The GENIUS Act, meanwhile, proposes a legal foundation for US dollar-pegged stablecoins, potentially paving the way for a clearer regulatory pathway for firms issuing or working with such digital assets.

Public companies continue BTC Accumulation

Market confidence is also reflected in corporate treasury activity.

According to available public disclosures, more than 125 publicly listed firms now collectively hold 847,000 BTC, which accounts for approximately 4.03% of Bitcoin’s capped 21 million supply.

Among these firms are high-profile names such as Strategy, Tesla, and several Bitcoin mining companies that retain coins on their balance sheets.

Analysts suggest these holdings add a layer of long-term price support, as most corporate buyers are unlikely to sell into short-term rallies.

Is above $130,000 next for BTC?

In a note last week, 10X Research said the latest breakout was driven by a clear shift in market structure toward a bullish trend.

While the firm had earlier anticipated a broader summer consolidation, its outlook turned more optimistic in recent weeks due to limited upside positioning, creating conditions for a sharp move higher.

The firm noted that a fresh trading signal was triggered when Bitcoin posted a new short-term high, indicating the rally may continue.

Historically, similar signals have delivered a median gain of 20%, with six out of ten instances resulting in positive returns.

If the pattern holds, 10X Research said Bitcoin could climb to $133,000 by September.