* 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.
Altcoins See Mixed Moves as Market Awaits Federal Reserve Chair Jerome Powell’s Speech
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.
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.
