Home
Cryptocurrency
Cryptocurrency News
Bitcoin Tests $121,000 Support, Ethereum Steadies Despite Market Cool Off

Bitcoin Tests $121,000 Support, Ethereum Steadies Despite Market Cool-Off

Institutional inflows and profit-taking shape crypto market moves as traders eye key support.

Written by Rahul Dhingra, Edited by David Delima | Updated: 8 October 2025 13:06 IST

Bitcoin Tests $121,000 Support, Ethereum Steadies Despite Market Cool-Off

Photo Credit: Unsplash/Viktor Forgacs

Traders weigh ETF inflows and market signals as crypto consolidates after record-breaking highs

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Bitcoin trades at $121,300 after brief highs above $126,000
Ethereum sustains near $4,400 despite minor profit-taking
PancakeSwap jumps 11 percent, while DoubleZero slides over 17 percent

After a historic rally earlier this week that pushed Bitcoin and Ethereum to fresh all-time highs, the global crypto market on Wednesday saw consolidation. Bitcoin trades at $121,300 (roughly Rs. 1.07 crore), while Ethereum stands at $4,400 (roughly Rs. 3.9 lakh) at the time of writing. The pullback comes after record institutional inflows and macroeconomic tailwinds fuelled the latest surge, with traders calling this phase a healthy breather in the ongoing crypto rally. As per the Gadgets 360 price tracker, Bitcoin is trading at Rs. 1.07 crore on Indian exchanges, while Ethereum stands at around Rs. 3.93 lakh.

Altcoins See Mixed Moves as Traders Watch Key Support Levels

Altcoins mimicked Bitcoin's mild retreat on Wednesday, as did most other digital assets on crypto exchanges. Binance Coin (BNB) was trading at $1,282 (roughly Rs. 1.13 lakh), Solana (SOL) slipped from $220 (roughly Rs. 19,500) to $218 (roughly Rs. 19,300), XRP was at $2.85 (roughly Rs. 250), while Dogecoin (DOGE) traded at $0.26 (roughly Rs. 20).

“Despite the mild pullback, market structure remains bullish, with optimism that there's around a 50 percent probability of Bitcoin testing $140,000 this month if momentum sustains. Key support lies near $113,000 (roughly Rs. 1 crore), which remains crucial for maintaining bullish sentiment. Ethereum is seeing minor profit-taking,” Avinash Shekhar, Co-Founder & CEO of Pi42, told Gadgets 360.

RBI to Introduce Pilot for Deposit Tokenisation Using CBDC Layer: Report

“Strong institutional appetite supports BTC, helping it sustain momentum and recover quickly. Bitcoin spot ETFs saw a massive inflow of $1.2 billion (roughly Rs. 10,646 crore) in just one day, influencing this price action. For now, $124,600 (roughly Rs. 1.1 crore) stands as an immediate resistance,” said Edul Patel, CEO of Mudrex

The CoinSwitch Markets Desk added that recent movements appear constructive rather than bearish. “The move appears to be a healthy short-term correction rather than a trend reversal. On-chain data suggests some profit-taking by long-term holders. While altcoins may experience mild consolidation, the broader market structure remains constructive as long as BTC holds above $120,000 (roughly Rs. 1.06 crore),” the desk said.

On the other hand, the CoinDCX Research Team highlighted shifts in both tokens and investor activity. “Binance Coin sustains above $1,200 (roughly Rs. 1.06 lakh) while Solana's price drops below $220 (roughly Rs. 19,500). PancakeSwap leads the top gainers with over an 11 percent jump, followed by Sonic (S) by over 7 percent and BNB by over 4.8 percent. On the other hand, DoubleZero (2Z) leads the top losers with over 17.8 percent pullback,” the research team said.

As traders adapt to recent all-time highs, Ethereum's ability to hold near $4,500 (roughly Rs. 4 lakh) and Bitcoin's defence of the $120,000 (roughly Rs. 1.06 crore) support will be key in shaping the next leg of the “Uptober” rally.

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

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Bitcoin, Ethereum, Crypto Market, Crypto in India, crypto news

Rahul Dhingra

Email Rahul Dhingra

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