Bitcoin extended its impressive rebound Monday, climbing 3.4% to $122,084, closing in on a mid-July record high of over $123,000. This surge came amid excitement in crypto markets following a game-changing executive order from U.S. President Donald Trump, which directs regulators to allow retirement and savings plans, like 401(k)s, to invest in cryptocurrencies and other alternative assets.
This regulatory boost opens the door to a fresh wave of institutional money flowing into crypto, fueling a powerful run-up in Bitcoin prices. Top Bitcoin ETFs in the U.S. saw three consecutive days of solid capital inflows after the order, although a significant chunk of gains came over the weekend’s typically low-liquidity period, prompting some caution about whether current levels will hold.
Ethereum, the world’s second-largest cryptocurrency, kept the momentum going, rising 2.3% to $4,314 — just $500 shy of its 2021 all-time high. Other altcoins followed the positive trend: Solana gained 2.2%, Cardano 1.5%, and XRP nudged up 0.7%, buoyed by news that Ripple and the SEC have agreed to settle their long-standing legal battle.
In the meme coin space, Dogecoin inched up 0.5%, while the politically themed $TRUMP token dipped slightly by 1.5%.
On the corporate front, U.S.-listed video streaming company Rumble is considering a $1.17 billion offer for German AI firm Northern Data AG, where stablecoin giant Tether is the largest shareholder. If the deal goes through, Tether would become Rumble’s biggest shareholder and a major customer.
With crypto prices climbing and institutional interest growing, Trump’s recent moves have injected fresh optimism into a market that continues to evolve rapidly, though investors are watching closely to see if the rally can sustain its pace beyond the weekend surge.
