Bitcoin traded at $121,360 on October 7, 2025, pulling back from its weekend record high of $125,851. The cryptocurrency remained above key technical support levels as investors assessed market momentum following strong institutional inflows and the ongoing United States government shutdown.
Price Action and Technical Levels
The largest cryptocurrency by market value reached an intraday high of $125,851 on October 7 before closing at $121,360 at 6:25pm UTC. The price held above its 20-day simple moving average near $116,236 and the 100-day average at $114,929. The 14-day relative strength index stood at 61, indicating neutral momentum. [1] [2]
Support and Resistance Zones
Technical analysts identified the classic pivot point at $113,101 as initial support, with the 100-day moving average providing a secondary floor. A sustained close above $123,799 could bring the $130,000 level into focus for traders monitoring breakout potential. [1]
Institutional Demand Through ETF Flows
United States spot Bitcoin exchange-traded funds recorded $2.71 billion in weekly inflows as of October 11, maintaining strong institutional demand through the month. Total assets under management across Bitcoin ETFs reached $158.96 billion, representing nearly 7 percent of the cryptocurrency’s market capitalization. [3] [4]
BlackRock’s iShares Bitcoin Trust led inflows on October 7 with $970 million in a single day, marking the highest daily total since July 10. The fund approached $100 billion in assets under management just 21 months after launch, with a 0.25 percent fee generating approximately $244 million in annual revenue. [5] [6]
Market Context and External Factors
Federal Reserve officials signaled support for additional rate cuts in 2025, with minutes from the September meeting showing most committee members favored further reductions. The central bank cut its key rate by a quarter point to 4.1 percent in September, its first reduction of the year. [7] [8]
- Bitcoin closed at $121,360 on October 7
- Weekend peak reached $125,851 intraday high
- ETF assets under management hit $158.96 billion
- BlackRock fund added $970 million on October 7
- Weekly ETF inflows totaled $2.71 billion
- Federal Reserve maintained accommodative policy stance
- Government shutdown delayed economic data releases
- Market capitalization remained near $2.4 trillion
United States equity markets retreated from record highs on October 9 as investors consolidated ahead of third-quarter earnings season. The absence of government economic data due to the shutdown left traders relying on secondary indicators and corporate results to gauge economic conditions. [9] [10]
