Bitcoin price today: stabilization after record highs above $126,000

Cryptocurrency

Bitcoin remained largely stable on Tuesday after hitting record highs above $126,000 in the previous session, driven by strong inflows into U.S. spot ETFs, “devaluation trade” positioning amid the ongoing U.S. government shutdown, and seasonal optimism known as “Uptober.”

The world’s largest cryptocurrency reached an all-time high of $126,186 on Monday before trimming gains as investors took profits.

As of 09:05 Moscow time, Bitcoin was trading 0.4% higher at $124,427, up more than 10% over the past week.

Bitcoin supported by ETF inflows, “devaluation trade,” and Uptober optimism

Data from SoSoValue showed that U.S. spot Bitcoin ETFs recorded $3.2 billion in net inflows during the week ending October 3 — the second-largest weekly figure since their debut earlier this year. On October 3 alone, inflows reached roughly $985 million.

Strong ETF demand allows institutional investors to gain Bitcoin exposure without direct custody, reinforcing the upward momentum.

The U.S. government shutdown added further fuel to the rally. As Washington’s gridlock delays the release of key economic data and heightens political risks, investors turned to non-sovereign “hard assets.”

This dynamic, often called the “devaluation trade,” describes capital shifting from fiat currencies to assets like Bitcoin and gold in anticipation of inflation or looser monetary policy.

October’s historically bullish seasonality — known as “Uptober” — has also contributed to the positive sentiment.

However, after the record high, some profit-taking led to a mild pullback on Tuesday.

Galaxy Digital launches Robinhood competitor

Galaxy Digital (TSX: GLXY) has unveiled GalaxyOne, a new commission-free trading platform for stocks and cryptocurrencies, directly challenging Robinhood (NASDAQ: HOOD). The news sent Galaxy Digital shares up 7% on Monday.

The platform mirrors Robinhood’s core offerings, including access to over 2,000 stocks and ETFs, crypto trading, and high-yield cash accounts. Following the announcement, Robinhood shares fell about 3% on NASDAQ.

Crypto prices today: altcoins remain optimistic

Altcoins traded mostly higher on Tuesday, though some remained range-bound amid macro uncertainty.

• Ethereum jumped 4.1% to $4,712.75.

• XRP gained 0.5% to $2.99.

• Solana rose slightly, while Cardano and Polygon added 3.5% each.

• Among meme tokens, Dogecoin climbed nearly 5%, and $TRUMP advanced 2%.

See also: "BNB price hits new all-time high amid a surge in network activity"

#Bitcoin (BTC)

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