"Crypto Week" kicks off in the U.S. as lawmakers debate key bills that could reshape digital asset regulation. Here’s what the legislation means for Bitcoin, investors, and the future of crypto in America.

Bitcoin (BTC-USD) gained 0.6% to $118K in Wednesday morning trading, lifting crypto-related stocks, after President Donald Trump said he persuaded some conservatives that were blocking a vote on crypto legislation to let the bills proceed.

Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.

The cryptocurrency has extended its rally as lawmakers consider legislation that would bring digital tokens further into the mainstream.

Bitcoin just broke through $123,000, setting a new all-time high. Follow live updates as BTC enters price discovery, short sellers get crushed, and altcoins begin to stir. Get real-time analysis, expert commentary,

Valentin Fournier, the lead research analyst at BRN, called the slowdown in bitcoin inflows a sign of weaker buyer conviction at elevated levels. Today's consumer price index and Wednesday's producer price index could set the tone for the next price move, he said.

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

The crypto market’s move higher has been helped by the slow build of pressure created by bitcoin exchange-traded funds (ETFs) and bitcoin treasury companies led by Michael Saylor’s Strategy, which have been buying up huge swaths of bitcoin and inspiring companies to try creating similar supply pressure by buying ethereum, XRP and others.