Bitcoin Edges Higher To $119K In Asian Trades

Bitcoin edged higher to $119,000 in Asian trade on Monday, but investor sentiment remained cautious despite optimism following a series of U.S. legislative actions aimed at regulating the cryptocurrency sector.

The world’s largest cryptocurrency last traded 0.6% higher at $119,001.6 as of 02:25 ET (06:25 GMT).

The token surged to record highs above $123,000 last week, but has since pulled back below $120,000 and is now trading in a consolidation phase near that level.