Bitcoin Touches Record High ~$125,500, Then Retraces to ~$124,000

Bitcoin made headlines yet again in early October. After climbing past $125,500, BTC settled back a little, trading around $124,000 — a healthy pullback following a strong rally. Gadgets 360+2India Today+2

This move is largely driven by institutional inflows and shrinking supply on exchanges. ETF-linked purchases are supporting upward momentum, while many holders are moving coins off exchanges, reducing liquid supply. Gadgets 360+1

Ethereum has shown strength too, holding above $4,500 amid the broader momentum. Altcoins have mixed performance: BNB is rising, while some smaller tokens correct. Gadgets 360

What it means for Xoibit users:

• Don’t expect a straight line upward — retracements after record highs are normal.
• Use this opportunity to set stops or scale into positions gradually.
• Watch for confirmation of support levels (e.g. $120,000 zone) before aggressive buying.