Crypto week kicks off on Capitol Hill, with lawmakers set to debate a handful of bills that sources say could have a big impact on the market.

The price of bitcoin BTCUSD jumped around 3% briefly on Monday, trading as high as $123,166 — a new record for the crypto. After hitting this level, bitcoin cooled slightly, falling below $120,000.

Bitcoin continued its rapid climb and hit another all-time high Monday as U.S. lawmakers begin a week focused on passing pro-crypto legislation.