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Bitcoin cools after record highs as markets eye stability

Bitcoin pulled back from a $125,000 peak amid exchange outflows, volatility, and shifting trader sentiment, while Venezuela’s economy embraces stablecoins as real money.

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Joe G & Money Talks
October 05, 2025 • Estimated Reading Time: 5 minutes

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Bitcoin corrects from $125K: traders hunt next support

Bitcoin balances hit six-year low as price nears $126K

Venezuela adopts “Binance dollars” as real currency

XRP slips below $3 as traders brace for liquidation risk

Bitcoin corrects from $125K: traders hunt next support

Bitcoin hit a new all-time high before dropping more than $2,000, sparking debate over where the next bounce will form.

  • [Retracement signal]: BTC slipped below $123,000 after topping $125,000 in thin weekend trading.

  • [Technical watch]: Traders target the 4-hour 50EMA near $118,000 as a likely rebound zone.

  • [Institutional angle]: Analysts say “debasement trade” demand from funds continues to support Bitcoin.

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“Bitcoin needs to prove $124,000 is a weakening resistance point,” said Rekt Capital. “Any shallow pullback from here would confirm that.”

Bitcoin balances hit six-year low as price nears $126K

Bitcoin holdings on exchanges have plunged as investors move coins into self-custody during the latest rally.

  • [Exchange data]: Balances dropped to 2.83 million BTC, the lowest since 2019.

  • [Outflow scale]: Over 114,000 BTC worth $14 billion left exchanges in two weeks.

  • [Market signal]: Shrinking exchange reserves suggest strong long-term conviction among holders.

“Hearing exchanges are out of Bitcoin,” said VanEck’s Matthew Sigel. “Monday could mark the first official shortage.”

Venezuela adopts “Binance dollars” as real currency

With inflation at 229%, Venezuela has shifted daily pricing to USDT stablecoins tracked on Binance P2P markets.

  • [Price anchor]: Most merchants use the live Binance P2P rate to set prices in “Binance dollars.”

  • [Crypto use]: Over 47% of small transfers now happen in stablecoins, mainly TRC-20 USDT.

  • [Policy stance]: The government allows crypto use in practice but hasn’t legalized dollarization.

“When cash disappears, people find a digital dollar,” said a Caracas merchant. “We use USDT because it holds value and works fast.”

XRP slips below $3 as traders brace for liquidation risk

XRP broke below key support, exposing over $500 million in liquidation zones that could drive further losses.

  • [Price structure]: A bearish flag points to a possible 15% drop toward $2.60.

  • [Market data]: Heavy liquidation pools sit between $2.89 and $2.73.

  • [Recovery path]: A bounce above $3.20 could reverse the short-term downtrend.

“A decisive close below $3 could trigger a cascade of liquidations,” said analysts tracking CoinGlass data.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results