Cryptocurrencies rose during Monday's trading, with Bitcoin approaching its all-time high, supported by demand from institutional investors amid trade tensions between the United States and some of its trading partners.
Bitcoin rose 2.83% to $122,022, according to Coinbase data, approaching its record high of over $123,000 set in mid-July.
Ethereum also rose 1.35% to $4,306.97, trading at its highest level since December 2021. Eric Trump, the US president's son, praised the rise in a post on the X platform.
Ripple rose 2.55% to $3.2671, and Dogecoin rose 1.91% to $23.83.
Sean McNulty, an analyst at FalconX, expects Bitcoin's next major rally to be at its previous record high of $123,205, while support could be at $116,000 if momentum slows, according to Bloomberg
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