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Bitcoin Price Rises Above $121,000 as Crypto Market Sees Technical Reset

Bitcoin Price Rises Above $121,000 as Crypto Market Sees Technical Reset

Traders are monitoring crypto price action as Bitcoin steadies and Ethereum holds key levels on Friday.

Written by Rahul Dhingra, Edited by David Delima | Updated: 10 October 2025 13:33 IST

Bitcoin Price Rises Above $121,000 as Crypto Market Sees Technical Reset

Photo Credit: Unsplash/TabTrader.com

Traders view the current consolidation as building momentum for the next leg higher

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Highlights

Crypto market digests this week’s record highs with mild pullback
Ethereum is steady as on-chain activity remains strong
Analysts call correction healthy for long-term structure

After briefly falling below $120,000 (roughly Rs. 1.06 crore) on Thursday, Bitcoin is hovering above the $121,000 (roughly Rs. 1.07 crore) mark on Friday as the global crypto market witnesses short-term weakness following this week's highs. Ethereum is trading near $4,300 (roughly Rs. 3.8 lakh), showing resilience despite mild profit booking. Supported by institutional inflows and ETF activity, the ongoing consolidation is seen as a healthy correction by analysts. As per the Gadgets 360 price tracker, Bitcoin trades at Rs. 1.07 crore on Indian exchanges, while Ethereum stands close to Rs. 3.88 lakh.

Altcoins Remain Range-Bound as Investors Await Market Direction

At the end of the week, altcoins showed mixed movements, mimicking Bitcoin's consolidation. Solana (SOL) was trading at $220 (roughly Rs. 19,500), while XRP and Dogecoin (DOGE) were priced at $2.82 (roughly Rs. 250) and $0.25 (roughly Rs. 22), respectively. Meanwhile, Binance Coin (BNB) was trading at $1,269 (roughly Rs. 1.12 lakh) on Friday.

Pi42 CEO and Co-Founder Avinash Shekhar called it a “technical correction”. “The ongoing correction appears technical in nature, with investors viewing the mild sell-off as a healthy breather within a broader uptrend. Institutional inflows and ETF participation continue to support the market, helping limit deeper downside,” he told Gadgets 360.

The CoinSwitch Markets Desk said leverage flush-outs are paving the way for organic price action. “BTC is trading steadily around the $121,000 (roughly Rs. 1.07 crore) zone as buyers step in on dips. BTC's key support range lies between $120,000 (roughly Rs. 1.06 crore) and $121,000 (roughly Rs. 1.07 crore), while a sustained break above $123,000 (roughly Rs. 1.09 crore) could trigger further upside,” the desk said.

UK Ends Four-Year Ban on Crypto ETNs as FCA Expands Retail Access

On the other hand, Mudrex CEO Edul Patel said Bitcoin's recovery momentum remains supported by strong institutional confidence. “ETFs recorded over $2.5 billion (roughly Rs. 22,175 crore) in inflows this week […] While the market remains bullish, macro factors like the strengthening dollar index and limited economic data have added short-term uncertainty,” he noted.

The CoinDCX Research Team highlighted broader market shifts in light of the downward trend on Friday. “Bitcoin price continues to plunge for the second consecutive day, indicating a significant rise in the bearish influence over the crypto markets. The top gainer for the day is Zcash with over 41 percent,” the team noted.

As the market steadies post a week of volatility, traders expect the current consolidation phase to serve as a base for the next leg, provided Bitcoin holds above $120,000 (roughly Rs. 1.06 crore) support zone.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Crypto in India, crypto prices today, Bitcoin, Ethereum

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More