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Crypto Rally Slows as Bitcoin Consolidates Near $122,500 and Ethereum Maintains Momentum

Crypto Rally Slows as Bitcoin Consolidates Near $122,500 and Ethereum Maintains Momentum

Crypto market holds steady as traders eye US Fed cues as Ethereum price hovers above $4,400.

Written by Rahul Dhingra, Edited by David Delima | Updated: 9 October 2025 13:42 IST

Crypto Rally Slows as Bitcoin Consolidates Near $122,500 and Ethereum Maintains Momentum

Photo Credit: Unsplash/Traxer

Investors keep watch on Fed signals as Bitcoin steadies at $122,500 and Ethereum holds firm above $4,400

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Highlights

Bitcoin consolidates above $122,500 with strong support
Ethereum trades steady above $4,400 amid mild profit-taking
Altcoin market mixed as investors await Powell’s remarks

After testing fresh highs earlier this week, the global crypto market is consolidating as traders eye macro signals from the US Federal Reserve. Bitcoin was trading at $122,500 (roughly Rs. 1.08 crore), while Ethereum stood at $4,400 (roughly Rs. 3.9 lakh), at the time of publishing this story. The pullback comes after the recent surge that was supported by consistent inflows and improved sentiment. Analysts believe that this could be a healthy consolidation phase in the current rally. The Gadgets 360 crypto price tracker shows that Bitcoin is trading at Rs. 1.08 crore on Indian exchanges, while Ethereum stands close to Rs. 3.9 lakh.

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The altcoin market held steady even after Bitcoin's little downswing today. Binance Coin (BNB) was trading at $1,319 (roughly Rs. 1.17 lakh), Solana (SOL) stood at $221 (roughly Rs. 19,600), XRP was at $2.87 (roughly Rs. 254), while Dogecoin (DOGE) hovered near $0.25 (roughly Rs. 22).

The CoinSwitch Markets Desk highlighted subdued movement in the near term. “ETF inflows totaled $420.9 million on October 7, reflecting steady institutional interest, though profit booking and a stronger dollar are keeping prices in check. Support remains at $121,000-$123,000 (roughly Rs. 1.07 crore-1.09 crore), while resistance is near $125,000 (roughly Rs. 1.10 crore),” the desk noted.

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The CoinDCX Research Team pointed out that altcoin activity remains largely neutral during this cooling phase. “BTC's consolidation has not significantly impacted ETH, XRP, BNB, or SOL as they trade near resistance levels. Meanwhile, Ethereum staking withdrawals have crossed $10 billion (roughly Rs. 88,780 crore), Bitwise filed an update to its Solana ETF, and Tether's supply has risen to $178 billion, suggesting ample market liquidity,” the team said.

Edul Patel, CEO of Mudrex, said the US Fed's expected 25bps rate cut is boosting sentiment. “On-chain data also shows muted selling pressure despite record gains. Major resistance stands at $125,700 (roughly Rs. 1.11 crore), and a break past this could push BTC above $127,000 (roughly Rs. 1.12 crore),” he told Gadgets 360.

Avinash Shekhar, Co-Founder & CEO of Pi42, pointed out that short-term dips have been constructive. “Ethereum is consolidating above $4,400 (roughly Rs. 3.9 lakh). Dogecoin and XRP have seen mild pullbacks, yet renewed investor interest suggests these moves could set the stage for the next leg higher,” he told Gadgets 360.

As traders await Federal Reserve Chair Jerome Powell's upcoming speech, Ethereum's ability to hold near $4,500 (roughly Rs. 4 lakh) and Bitcoin's resilience above $122,000 (roughly Rs. 1.08 crore) will be key to determining whether the rally extends toward fresh all-time highs in October.

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.

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Further reading: Cryptocurrency, Crypto in India, Crypto market in India, BTC

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