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2h ago

Crypto Market Pauses Near Highs as Bitcoin Holds $122,000 and Ether Tests $4,450 Support

ETF inflows persisted after a leverage-driven shakeout, leaving traders focused on whether support holds into October catalysts.

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Ethereum

Overview

  • Bitcoin trades near $122,000 after setting a record around $126,200 earlier in the week, with price action compressing in the $120,000–$124,000 band.
  • Ether dropped more than 6% to roughly $4,450 after a failed push toward the $4,750–$4,800 zone, with $4,400–$4,600 now the pivotal range.
  • Spot funds saw strong demand as U.S.-listed Bitcoin ETFs took in about $876 million and spot Ethereum ETFs added roughly $420–$421 million on Oct. 7.
  • Derivatives data show a broad reset, with roughly $635–$688 million in 24-hour liquidations including about $489 million in long positions and a decline in open interest.
  • On-chain metrics point to constrained supply, with exchange ETH reserves reported near multi-year lows around 16.1–17.4 million, while analysts flag CPI, SEC decisions, and the Fed meeting later this month as potential drivers.