As of 11:23 am IST, Bitcoin was down 2.53% in the past 24 hours at $121,243, and gained nearly 5.79% over the past week. Ethereum went down by around 6% in the past 24 hours to $4,433, and other major tokens—including XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid—were down up to 7%, while BNB was up by 1.91%. Overall crypto market capitalisation edged down 3.17% to $4.14 trillion, according to CoinMarketCap.
Also Read | NFO Insight: Invest in Adani, Ambani, Birla stocks with this fund from ICICI Prudential Mutual FundAccording to CoinSwitch Markets Desk, Bitcoin eased to $122K after reaching a record high of $126K, with around $470M in long positions unwound as leverage adjusted across the market. 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 $120K. Traders are likely to watch leverage and liquidity levels closely. Meanwhile, BNB set a new all-time high, overtaking XRP and USDT to become the third-largest crypto asset, CoinSwitch Markets Desk added.
On Tuesday, BNB surged past $1,200, reaching a fresh all-time high. On Wednesday, BNB was trading at $1,284, witnessing a surge of 26.99% in the past week.Parth Srivastava, Head of Quant, 9Point Capital’s Research Team, believes that Bitcoin looks calm right now, but the calm may be misleading, and the price has been moving sideways for a while, building pressure and is likely to snap any moment.Srivastava also adds that as we know, markets often stay quiet before a big move, and this could be one of those moments, expect volatility ahead; Bitcoin may finally break out and is likely to be sharp and loud, reminding serious investors/traders that the calm in markets never lasts for long.
Also Read | PPFAS Mutual Fund announces change in fundamental attribute of Parag Parikh Flexi Cap Fund
Market perspective
Edul Patel, CEO of MudrexBitcoin is showing resilience, recovering to $122,200 after briefly testing $120,600 level. Investors turned to minor profit booking after a 12.5% weekly gain in the asset. However, strong institutional appetite continues to support BTC, helping it sustain momentum and recover quickly. Bitcoin spot ETFs saw a massive inflow of $1.2 billion in just one day, influencing this price action. For now, $124,600 stands as an immediate resistance. If BTC breaks this level, a move towards new highs near $129,000 is likely, while $120,000 remains as a crucial support point.
Sathvik Vishwanath, Co-Founder & CEO, Unocoin
Bitcoin is hovering near all-time highs around $125,000, driven by institutional interest and strong ETF inflows. Technicals remain bullish with price above key moving averages, RSI neutral-positive, and momentum building. Resistance lies at $125K–$130K, while support zones sit near $110K.
Consolidation is likely unless volume confirms a breakout. A drop below $107K could trigger a bearish reversal. Traders are watching for MACD crossovers, volume spikes, and RSI divergences. Volatility remains high, and macro factors like interest rates and regulation loom large. For now, Bitcoin holds its bullish structure, but caution is warranted at these elevated levels.
as a Reliable and Trusted News Source
