Bitcoin Trades Approaching $124K; BNB Surges Past $1,200 to Hit All-Time Fresh

Bitcoin extended its upward momentum on Tuesday, trading near $124,610, while Ethereum touched $4,700 and BNB surged past $1,200 to hit an all-time fresh. The broader cryptocurrency market also showed strength.

As of 10:33 AM IST, Bitcoin was up 0.8% at $124,599 and has gained almost 9% over the past week. Ethereum rose about 4.2% to $4,712 and other major tokens – including XRP, Solana, Tron, Dogecoin and Cardano – gained more than 5%, while hyperliquid fell 4.1%. The total crypto market capitalization rose 0.99% to $4.27 trillion, according to CoinmarketCap.

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EDUL PATEL, CEO and co-founder of Mudrex, says Bitcoin continues its momentum as a fresh all-time high of $126,198 emerges, and the broader market is also showing similar strength with Ethereum marking the $4700 mark and BNB hitting an all-time high above $1200 levels.

Patel further said that while institutional inflows continue at record levels, macro signals are taking center stage as markets anticipate supportive signals from the Fed and a dovish tone in the September FOMC minutes and softer US jobless claims could extend Bitcoin’s rally to $129,000. “Meanwhile, with the Dollar Index down 10% this year, any further weakness increases the appeal for Bitcoin as a hedge and even draws retail investors into the rally,” he added.

In the past week, Ethereum is up 12.35%, while BTC is up 8.96%, according to CoinmarketCap.

According to Coinswitch Markets Desk, Bitcoin rose to a new all-time high above $126,000 amid strong institutional inflows and a weak US dollar, before consolidating around $124,500 as traders booked gains and the ongoing US government takeover fueled the broader “debasation trade,” the parallel demand for both crypto and gold.

“On-chain data points to continued accumulation, with exchange reserves continuing to decline. From a technical perspective, Bitcoin sees resistance near $127,000, while support levels are clustered between $120,000 and $122,000. Momentum indicators such as the MACD remain positive. A decisive breakout could set the stage to $130,000 and beyond, after which the extent of a near candidate-bureaubuse bureaubus bureau ‘The COINTITIn-bureaubest bureaubest,’ The COINTITIn-bureaubest. added.

Here’s what other analysts say

Parth Srivastava, Head of Quant at 9Point Capital’s research team

Bitcoin is poised to rise as liquidity turns back into risk. ETF inflows remain robust, supply remains tight and macro uncertainty continues to fuel debasing trading. With each dip that gets shallower, momentum builds for another leg higher; Markets begin not to hope, but to inevitability. The trend lives and breathes.

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Sathvik Vishwanath, Co-Founder and CEO, UNOCOIN

Bitcoin is trading above $124,000, indicating a strong bullish breakout. The relative strength index (RSI) is near 70, suggesting that overbought conditions are only confirming positive momentum. The MACD line remains above the signal line and strengthens the uptrend. The price has broken above previous resistance near $120,000, making it new support.

The 50-day EMA rises sharply and remains well above the 200-day EMA, forming a golden cross—a classic bullish signal. Immediate resistance lies at $126,500, while the support zones to watch are $117,000, $107,000 and $92,000. Volume confirms strength, but short-term consolidation or pullback remains possible.