Bitcoin dropped nearly 1.23% over the past 24 hours, trading around $123,745 on Monday after hitting an all-time high of $125,245 on Sunday, driven by continued ETF inflows amid the US government shutdown.
As of 10:22 am IST, the world’s largest cryptocurrency was down 1.30% in the past day at $123,796, while gaining roughly 10.65% over the week. Ethereum slipped 1.14% to $4,529. Other major tokens, including XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid, and Cardano, declined up to 3% in the same period. The overall cryptocurrency market capitalization edged down 0.15% to $4.22 trillion, according to CoinMarketCap.
Sathvik Vishwanath, Co-Founder & CEO at Unocoin says that demand is fueled by institutional interest, spot ETF inflows, and safe-haven sentiment amid global uncertainty and technically, it faces key resistance at $125K, with support at $110K and deeper fallback levels near $100K.
Vishwanath further hints that if BTC breaks above resistance with strong volume, targets between $128K–$135K may be reached. “However, macro risks like a strong U.S. dollar or regulatory tightening could prompt sharp corrections. Overall, Bitcoin remains bullish but volatile, with near-term direction hinging on volume confirmation, sentiment, and external economic pressures. Cautious optimism appears warranted for now.”
In the past one week, Ethereum has surged by 9.83% whereas BTC surged by 10.53%, according to CoinMarketCap.
According to another expert, the crypto market is in full swing this Uptober and strong ETF inflows exceeding $4.5 billion and renewed institutional demand, including a $302 million accumulation, are fueling the rally.
Avinash Shekhar, Co-Founder & CEO, Pi42 says that traders are now watching if Bitcoin can maintain momentum toward the $150,000 target, with $115,000 as key support, as 99% of supply sits in profit and Ethereum, trading above $4,600, continues to show resilience while optimism for fresh highs builds.
“Altcoins are also catching up, with renewed focus on XRP’s potential catalysts around its bank license and ETF launch. Supported by dollar weakness and improving macro cues, market confidence is rising. Historically, such sustained rallies tend to ignite FOMO among retail and institutional participants alike, driving prices even higher,” Avinash Shekhar further added.
Market perspective on crypto
CoinSwitch Markets Desk
BTC hit a new all-time high, crossing $125K and briefly pushing its market cap close to $2.5 trillion. Momentum started building last week as liquidity inflows surged and the ongoing U.S. government shutdown fueled uncertainty. BTC ETFs recorded $3.2B in inflows last week, reflecting institutional demand as well.
Investors are increasingly viewing BTC as a hedge against the U.S. dollar. The BTC exchange reserve has dropped to a six-year low, hinting at a holding pattern among users. BTC is now stabilizing around $124K as traders assess momentum, with support near $122K and resistance at $125K–$125.5K, suggesting short-term consolidation before the next leg.
Parth Srivastava, Head of Quant at 9Point Capital’s Research Team
Bitcoin smashes back to $120K as Q4 opens with fireworks. After such a vertical run, some consolidation is natural before markets gear up to take out fresh highs. As we’ve maintained, the setup remains bullish with strong fundamentals and liquidity flowing, and this quarter has only just begun to deliver the momentum we were anticipating.
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