Bitcoin Hits New All-Time High At $126,198 Amid ‘Uptober’ Rally And ETF Inflows
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Bitcoin hit a record $126,198 before easing to $124,140, driven by ETF inflows, Fed rate cut, and the uptober effect, with strong demand amid US shutdown.
Bitcoin At All-Time High.
Bitcoin Price: Bitcoin continued its rally to hit a fresh all-time high at $126,198 before slumping 1 per cent to $124,140. Bitcoin is +0.79% in the last 24 hours with a circulating supply of 19.93M. The uptober effect, a historical trend, where bitcoin prices appreciate substantially in October, the record inflow in ETFs and Fed rate cut have led to a historical rise in Bitcoin price.
According to Binance, in the past 30 days, the price of Bitcoin gained 12 per cent around $13,761.
The ongoing U.S. government shutdown reinforced the broader “debasement trade”, driving parallel demand for both crypto and gold, CoinSwitch Markets Desk explained to News18. On-chain data points to sustained accumulation, with exchange reserves continuing to decline, it added.
The appeal of Bitcoin is linked to its limited supply. A total of 21 million bitcoins will exist ever, making it a stable and lucrative investment asset for investors.
CoinDCX research team said that as Bitcoin bulls gain traction, institutions become activated, with more than 500 BTC transferred from Coinbase to an unknown institutional wallet. Meanwhile, BlackRock’s IBIT nears $100B AUM, topping in profitability despite being among the newest, it added.
Meanwhile, Ethereum sustains above $4600, BinanceCoin above $1200, and XRP trades close to $3. Solana rises above $232 and is among the top traded tokens. The top gainers for the day include MYX Finance with a jump of over 31.5%, followed by Starknet by over 19.72% and PancakeSwap by over 12%. On the other hand, Pump.fun drops by 5.65%, Hyperliquid by over 3% and Monero by over 2.14%.
Mr. Edul Patel, CEO and Co-founder of Mudrex said, Bitcoin continues its momentum creating a fresh all time high of $126,198. The broader market is also showing similar strength with Ethereum reclaiming the $4700 mark and BNB hitting all time high above $1200 levels. While institutional inflows continue at record levels, macro cues take center stage as markets anticipate supportive signals from the Fed. A dovish tone in the September’s FOMC minutes and softer US jobless claims could extend Bitcoin’s rally towards $129,000. Meanwhile, with the dollar index down 10% this year, any further weakness increases the appeal for Bitcoin as a hedge, attracting even retail investors into the rally.
Bitcoin Price Outlook
From a technical perspective, Bitcoin is seeing a resistance near $127,000, while support levels are clustered between $120,000 and $122,000. Momentum indicators such as the MACD remain positive, CoinSwitch Market Desk added. A decisive breakout could set the stage for a move toward $130,000 and beyond, whereas failure to clear resistance may prompt a near-term correction.
About the Author
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the I…Read More
October 07, 2025, 10:58 IST
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