Bitcoin Price Dips After New Record High
Bitcoin (BTC) fell below $124,000 on Tuesday. This came after it reached a new all-time high of $126,199 on Monday. Strong demand from US-listed spot Bitcoin ETFs supports the price. Analysts warn that small pullbacks may happen. However, the overall outlook for the fourth quarter remains positive.
Institutional Demand for Bitcoin Grows
Data from SoSoValue shows strong institutional interest in Bitcoin. On Monday, spot Bitcoin ETFs saw inflows of $1.21 billion. This marked six consecutive days of inflows since September 29. Last week, ETF inflows totaled $3.24 billion. This was the largest inflow in 2025 and the second-largest ever recorded.
Ken Griffin, founder of Citadel, told Bloomberg that investors are buying gold, silver, and Bitcoin. He called this a “debasement trade” as they seek safer assets than the US Dollar. Griffin warned of “substantial asset inflation away from the Dollar” due to this shift.
Profit Taking and Market Outlook
On-chain data shows some Bitcoin holders are taking profits. Santiment’s Network Realized Profit/Loss (NPL) metric spiked on Sunday and Monday. This means many holders sold their Bitcoin at a profit, increasing selling pressure.
A Bitfinex analyst said Bitcoin usually rallies in October after weak Septembers. October, known as “Uptober,” has had positive returns in nine of the last eleven years. The fourth quarter is often Bitcoin’s strongest, with average gains near 80%.
The analyst noted several factors support a bullish outlook. These include a dovish Federal Reserve, easing US inflation, renewed ETF inflows, and stable on-chain support. Minor corrections may occur, but the market setup favors gains in the coming months.
Bitcoin Price Forecast
Bitcoin started the week strong, hitting $126,199 on Monday after a 10% weekly gain. On Tuesday, it traded near $123,811. If the uptrend continues, Bitcoin could test the $130,000 level.
The Relative Strength Index (RSI) on the daily chart is 69, down from overbought levels. This suggests a possible slowdown and short-term consolidation. If a correction happens, support is likely near $120,000.
