Bitcoin's Remarkable Rally

In a significant uptick, Bitcoin soared by more than 2% this Monday, eclipsing the $122,000 mark for the first time since mid-July. This surge comes on the heels of El Salvador's groundbreaking decision to pass the Investment Banking Law. This legislation paves the way for regulated banks, with a minimum capital of $50 million, to offer services encompassing Bitcoin and other digital currencies across various strategic sectors.

Impact of U.S. Policy on Cryptocurrencies

Adding to the momentum, investors are reacting positively to a recent executive order signed by United States President Donald Trump. This order marks a pivotal shift, permitting Americans to incorporate cryptocurrencies into their 401(k) retirement plans, further legitimizing digital assets in the financial landscape.

At 2:04 am ET, Bitcoin was trading at $122,041.481, up by 2.29%, while Ethereum also enjoyed gains, rising by 1.36% to $4,309.7151 by 2:05 am ET.