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Bitcoin briefly reached the $120,000 mark on Monday. This sets a new intraday record across multiple exchanges including Bitget, before pulling back slightly as traders digested the rapid move.
Key Details:
- The price surge happened around the 10:00 am mark of the day, Philippine Time.
- The charts flashed $120,000 for less than a second on several platforms. Notably, it only went up to $119,999 on Binance.
- The price continues to climb at the time of this writing.
The surge came amid rising optimism over institutional inflows and momentum building around Bitcoin Core v30, a scheduled October 2025 protocol upgrade that would expand the OP_RETURN data field to nearly 4MB.
In parallel, the U.S. House of Representatives is preparing to vote on key crypto-related legislation this week, including stablecoin rules and regulatory oversight measures, in what some have dubbed “Crypto Week” in Washington.
Data from Coinglass indicated that approximately $182 million in short positions were liquidated over the past 24 hours. In the most recent hour alone, $46.29 million in shorts were wiped out, compared to just $1.07 million in long liquidations
Bitcoin is up 100% year-on-year.
This article is published on BitPinas: Bitcoin Briefly Touches $120,000, Sets Intraday Record
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