Encryption carnival starts! Bitcoin breaks through $123.000 overnight. BlackRock ETF aims at a scale of 100 billion

Driven by Trump's administration's friendly policies and large allocation of funds, the world's largest cryptocurrency, Bitcoin (BTC.CC), broke through the $123,000 mark for the first time on Monday. BlackRock's Bitcoin spot ETF is moving towards a scale of $100 billion. With stablecoin legislation coming soon, U.S. House Republicans announced the arrival of "cryptocurrency week". As the latest move to relax regulation, U.S. officials released new guidance on Monday on how banks can provide custody services related to digital asset classes. Bitcoin shorts suffered a squeeze, causing billions of dollars of bearish bets to vanish, which helped some of the Bitcoin rebound by about 15% over the past week.