Bitcoin News Today: Bitcoin Surges 13% to $122,600, Becomes Fifth-Largest Asset

Bitcoin has surged to become the world’s fifth-largest asset by total value, surpassing Amazon’s $2.3 trillion market capitalization. This significant milestone was achieved as cryptocurrency investors were buoyed by optimistic regulatory expectations during an event dubbed “Crypto Week” by the US government. During this week, lawmakers sought to pass three key regulatory bills aimed at providing clarity and structure for the Web3 industry.

The regulatory developments included the passage of the Digital Asset Market Clarity (CLARITY) Act, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, and the Anti-CBDC Surveillance State Act. These bills were passed amidst concerns from Republicans regarding central bank digital currencies (CBDCs). The GENIUS Act, in particular, is seen as crucial for legitimizing stablecoins for global adoption among banks and financial institutions.

Bitcoin’s price reached a new all-time high of $122,600 on Monday, marking a nearly 13% increase over the past week. This surge allowed Bitcoin to surpass a $2.4 trillion market capitalization, overtaking not only Amazon but also Silver and Alphabet (Google). At the time of writing, Bitcoin’s market cap was only $730 million shy of tech giant Apple.

This development underscores Bitcoin’s growing presence in the global financial system. According to Enmanuel Cardozo, a market analyst at real-world asset tokenization platform Brickken, the legitimacy of Bitcoin as an investable asset class is no longer in question, given the continued institutional accumulation and supportive macro environment. Cardozo suggested that these factors could help Bitcoin surpass Apple’s valuation, implying a Bitcoin price of over $142,000.

In addition to regulatory developments, the cryptocurrency market saw other significant events. Cryptocurrency-focused asset manager Grayscale submitted a confidential IPO filing with the Securities and Exchange Commission (SEC), aiming to list its company shares under a new clause that enables confidential filings ahead of a final public offering. This move could open up more funding opportunities for Grayscale through public stock offerings or convertible note offerings.

Furthermore, tokenholders of the US President Donald Trump-backed crypto project World Liberty Financial (WLFI) voted overwhelmingly to make their tokens tradable. This decision opens the door for the Trump-linked token to increase in value and allows more tokenholders to participate directly in protocol decisions, including voting on emissions, ecosystem incentives, and future treasury actions.

Cryptocurrency traders have also been shifting away from centralized exchanges (CEXs) in favor of decentralized exchanges (DEXs), pushing the DEX-to-CEX ratio to a new all-time high. Spot trading volume on DEXs surged at least 25% in the second quarter of 2025 over the previous quarter, while CEX volumes plunged almost 28%. This shift highlights the growing preference for decentralized trading platforms.

Bitcoin-based decentralized finance (DeFi), often referred to as BTCFi, is experiencing significant growth but still faces challenges. According to DefiLlama data, Bitcoin-based DeFi protocols’ total value locked (TVL) increased from $304.66 million on Jan. 1, 2024, to $7.05 billion by the end of 2024. This surge was fueled by new protocol launches, emerging token standards, institutional inflows, a major price rally pushing BTC to an all-time high, and the rise of liquid restaking. However, despite these advancements, trust remains an issue, with 36% of respondents avoiding BTCFi due to a lack of trust and 25% due to risk and fear of losses.

Overall, the cryptocurrency market has seen significant developments this week, driven by regulatory clarity and institutional support. These factors have contributed to Bitcoin’s rise to the fifth-largest global asset and highlighted the growing importance of decentralized finance and stablecoins in the financial ecosystem.