Bitcoin Price Nears $124,000 After New Record High
Bitcoin (BTC) price is steady near $124,000 after hitting a new all-time high. Ethereum (ETH) is gaining interest as more institutions buy in. Ripple (XRP) is holding a key support level, with bulls aiming for $3.40.
Strong ETF Demand Boosts Bitcoin and Ethereum
Institutional demand for Bitcoin remains strong this week. Data from SoSoValue shows Bitcoin spot ETFs had $1.21 billion in inflows on Monday. This marks six straight days of inflows since September 29. Last week, Bitcoin ETFs saw net inflows of $3.24 billion. This is the largest inflow in 2025 and the second largest ever. These flows helped push Bitcoin to new highs.
Ethereum spot ETFs also saw steady inflows. On Monday, $181 million flowed in, marking six days in a row of inflows.
Retail interest in XRP derivatives is rising. XRP futures Open Interest (OI) reached $1.37 billion on Tuesday. This is close to levels seen in mid-September. A steady OI suggests strong trader confidence in XRP’s short-term uptrend.
Bitcoin and Altcoins Outlook
Bitcoin reached a new high of $126,199 on Monday after a 10% rise last week. It is now stable around $124,000. If the uptrend continues, Bitcoin could reach $130,000. However, the Relative Strength Index (RSI) dropped from overbought levels, signaling possible short-term consolidation. If investors take profits, Bitcoin might fall to support near $120,000.
Ethereum broke above resistance at $4,232 and rose nearly 9% last week. It closed above $4,488 and held this level as support on Monday. Ethereum rose 3.76% that day and trades near $4,677. If $4,488 holds, Ethereum could move toward its all-time high of $4,956. The RSI at 63 and a bullish MACD signal growing momentum. If Ethereum falls below $4,488, it may drop to $4,232 support.
XRP broke out of a falling wedge pattern last Thursday, a bullish sign. It retested the upper trendline and found support. XRP trades near $2.97. If the uptrend continues, XRP could reach resistance at $3.40. Its RSI and MACD also support a bullish outlook. If XRP corrects, it may fall to support at $2.72.
