Bitcoin’s price dropped under the $120,000 threshold on Bitstamp on Thursday, Oct. 9, 2025, reaching an hourly low of $119,736 at 1 p.m. EST. The move marked a sharp 3.6% intraday decline from earlier highs near $124,220, extending a weeklong pattern of volatility in the broader cryptocurrency market. Trading volume surged on the hourly chart as traders reacted to the sudden downturn, suggesting short-term profit-taking and liquidations amid thinner liquidity conditions.
Despite the brief dip, bitcoin quickly regained some stability, hovering just above the $120,000 line in subsequent hours. Analysts attribute the pullback to ongoing market uncertainty surrounding U.S. interest rate policy and shifting investor sentiment toward risk assets. The recent price action points to bitcoin’s continued sensitivity to macroeconomic data and institutional positioning.
While the $120,000 level remains a key psychological and technical zone, market participants are watching closely to see if buyers can defend the threshold or if further correction could push BTC toward the $115,000 range. Over the past day, more than $125 million in BTC long positions were wiped from bitcoin derivatives markets, according to coinglass.com metrics. At the time this post was published, BTC has been struggling to hold above the $120,000 zone, but still secures it for now.
💡FAQ
Q: When did bitcoin drop below $120,000?
A: Bitcoin fell below $120,000 at 1 p.m. EST on October 9, 2025.
Q: What exchange recorded the $119,736 low?
A: The low was recorded on Bitstamp’s BTC/USD chart.
Q: How much did BTC fall from its previous high?
A: Bitcoin declined roughly 3.6% from an earlier high of $124,220.
Q: What caused the sudden drop?
A: Analysts cite macroeconomic uncertainty and short-term trading volatility.
Q: What’s next for Bitcoin’s price?
A: Traders are watching whether BTC can hold above the $120,000 support level.
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