Bitcoin remains range-bound between $120K–$126K, consolidating post strong rally

Synopsis

Bitcoin traded sideways at $121,410, consolidating between $120K–$126K after a strong rally, while Ethereum fell over 2% to $4,357. Major altcoins like BNB, XRP, Solana, and Dogecoin dropped up to 4%, dragging the overall crypto market cap down 1.05% to $4.13 trillion.

Bitcoin remained range-bound between $120K and $126K, trading at $121,410 on Friday after a strong rally. Meanwhile, Ethereum fell over 2% in the past 24 hours, trading at $4,357.

As of 11:01 am IST, Ethereum was down 2.25% at $4,353. Other major tokens—including BNB, XRP, Solana, Dogecoin, Tron, Cardano, and Hyperliquid—dropped up to 4%. Overall, the crypto market capitalization declined 1.05% to $4.13 trillion, according to .

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According to Sathvik Vishwanath, Co-Founder & CEO at Unocoin, Bitcoin is consolidating after a strong rally and the momentum is slowing (RSI nearing overbought), suggesting potential for short-term correction. Upcoming U.S. CPI data and macro news could break the stalemate.
Crypto TrackerTOP COINS (₹) Tether89 (-0.1%)XRP250 (-0.41%)Bitcoin10,781,119 (-0.56%)Ethereum386,071 (-1.98%)BNB112,919 (-2.38%)
The CEO of Unocoin believes that a hotter-than-expected CPI may trigger risk-off sentiment, strengthening the dollar and pressuring BTC below $120K support, and conversely, soft CPI and dovish macro signals could fuel a breakout above $126K toward $130K+. “Watch the 50-day MA (~$118K) as key support. Price action is coiling, indicating an imminent move. Volatility is likely to spike post-data, defining Bitcoin’s short-term trend. Patience warranted until macro catalysts play out,” he added while sharing the technical aspect.

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In the last one week, Bitcoin has surged 1.09% whereas Ethereum has edged down 2.90% in the same time period.

Another expert believes that the crypto pullback today isn’t a surprise, surging prices in the recent week planted seeds of caution, as traders harvest profits, momentum slows and combined with macro headwinds and stretched positioning, what we’re seeing is more correction than collapse.

While sharing a few catalysts that stand out, Ryan Lee, Chief Analyst at Bitget views this dip as a healthy consolidation rather than the start of a broader reversal as long as key supports hold.

“The structural bullish underpinnings remain intact: strong institutional flows, shrinking exchange balances, and resilient on-chain demand. However, this phase still requires monitoring, volatility could persist, and failed support levels might test sentiment further,” Lee adds.

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Here is what other analyst says

Edul Patel, CEO of Mudrex

Bitcoin is showing signs of recovery after testing $119,800 ahead of the $4.6 billion options expiry. Despite minor volatility, institutional confidence remains strong, with Bitcoin ETFs recording over $2.5 billion in inflows this week. At the same time, whales accumulated over 60,000 BTC in the past 10 days, showing the conviction towards the asset.

While the market remains bullish, macro factors like the strengthening dollar index and limited economic data have added short-term uncertainty. Bitcoin needs to hold above its current levels to sustain bullish momentum. A move below $119,500 could trigger a short-term correction toward $115,000 before a relief rally.
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