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Bitcoin Holds Above $121,000 as Market Consolidates Following Record High

Bitcoin Holds Above $121,000 Following Record High

Bitcoin traded at $121,360 on October 7, pulling back from a weekend peak of $125,851. Institutional inflows remained strong as ETFs recorded $2.71 billion in weekly demand.

  • Bitcoin closed at $121,360 on October 7
  • Weekend peak reached $125,851 intraday level
  • ETF assets under management hit $158.96 billion
  • BlackRock fund added $970 million single day
  • Weekly ETF inflows totaled $2.71 billion overall
  • Federal Reserve maintained accommodative policy stance now
  • Government shutdown delayed economic data release timing
  • Market capitalization remained near $2.4 trillion level

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]

Rachel Patel

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Editorial Timeline

Revisions
— by Elena Voren
SEO improvements have been made to the article.
— by Howayda Sayed
  1. Rewritten to focus on October 7-11, 2025 data only
  2. Updated Bitcoin price to $121,360 October 7 closing figure
  3. Added precise ETF inflow data of $2.71 billion weekly total
  4. Included BlackRock fund single-day inflow of $970 million
  5. Added Federal Reserve rate cut context and policy signals
  6. Simplified headings and removed special characters throughout
  7. Restructured article into clear sections with proper HTML formatting
  8. Added comprehensive FAQ section with three relevant questions
— by Howayda Sayed
Added verified secondary and financial data sources.
— by Howayda Sayed
Improved and clarified the article title for relevance.
— by Howayda Sayed
Initial publication.

Correction Record

Accountability
— by Howayda Sayed
  1. Bitcoin closing price updated to $121,360 on October 7, 2025 from Capital.com data
  2. Weekend peak corrected to $125,851 intraday high from multiple sources
  3. ETF weekly inflows updated to $2.71 billion from Cointelegraph October 11 report
  4. BlackRock daily inflow corrected to $970 million on October 7 from Yahoo Finance
  5. ETF assets under management updated to $158.96 billion from Cointelegraph data
  6. Federal Reserve rate verified at 4.1 percent from AP News and ABC News
  7. Equity market pullback on October 9 confirmed by Reuters market coverage
  8. Removed outdated Uptober statistics not from October 8-12 period
  9. Removed speculative price targets and unverified political commentary
  10. All dates and figures now sourced from October 8-12, 2025 period only

FAQ

What price did Bitcoin reach on October 7, 2025?

Bitcoin closed at $121,360 on October 7, 2025, after reaching an intraday high of $125,851. The cryptocurrency maintained support above its key moving averages as institutional demand through exchange-traded funds remained strong.

How much did Bitcoin ETFs receive in weekly inflows?

Bitcoin exchange-traded funds recorded $2.71 billion in weekly inflows as of October 11, 2025. BlackRock's iShares Bitcoin Trust led with $970 million in a single day on October 7, the highest daily total since July 10.

What did the Federal Reserve signal about interest rates?

Federal Reserve officials signaled support for additional rate cuts in 2025, according to minutes from the September meeting. The central bank reduced its key rate by a quarter point to 4.1 percent in September 2025, marking its first cut of the year.