Highlights:
- Bitcoin is consolidating between $112,309 and $111,655
- Rally through $112,309 could send Bitcoin to $113k, or higher
- Rising demand from whales could trigger such a rally for Bitcoin
Bitcoin (BTC) is green today, albeit by a small margin. At the time of going to press, Bitcoin was trading at $112,064, up by 2.3% in the day. Trading volumes have also shot up in the day, up by 81.96% to stand at $42.83 billion.
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This indicates that bullish sentiment is returning after the price showed some weakness last week. Several factors support a potential Bitcoin rally in the short term, and could see Bitcoin soon retest its recent all-time highs.
Whales Accumulating Bitcoin
One of them is the rising whale demand for Bitcoin. Data shows that whales have added billions of dollars worth of Bitcoin to their holdings in the past week. This is likely to significantly impact Bitcoin going forward. First, this is adding pressure to the Bitcoin supply. As whales accumulate against Bitcoin’s fixed supply, the odds are that Bitcoin could experience price spikes going into the future.
🔥ATTENTION: Net exchange outflows by whales have just hit the highest level since December 2024!
Over the past week, BTC whales have sent -47.2k BTC off exchange on a net basis according to data provided by @glassnode.
Are whales buying the dip? pic.twitter.com/1NImkhYYTH
— André Dragosch, PhD⚡ (@Andre_Dragosch) September 29, 2025
At the same time, the ongoing whale accumulation could trigger retail FOMO in Bitcoin. Whales tend to move the price, and retail follows them. Now that they are buying, retail money can interpret it as a signal that the recent price correction is over and that Bitcoin is entering another bull cycle. Such a confluence of whale buying and retail FOMO could send Bitcoin rocketing to new highs in the foreseeable future.
Technical Analysis Points to Possible Bitcoin Rally In October
Whale activity is also on the rise at a time when technical analysts are giving a bullish outlook for Bitcoin. Chart analysts agree that, based on historical price patterns, Bitcoin is headed for a rally going into October. Charts show that Bitcoin closed last week above a critical support level. In the past, whenever Bitcoin ends September above weekly support, then Bitcoin tends to rally in October.
Bitcoin about to close the week above the 20 EMA (red line)
This is a good sign
A cross under it marks a deeper pullback of the beginning of the bear market #Bitcoin #crypto #blockchain pic.twitter.com/qLSp90G8cu— Jonathan Hosman (@JonathanHosman) September 28, 2025
If this history repeats itself, Bitcoin could hit new highs in October in a rally that could see it go parabolic in November and December. Technical analysts also note that the recent Bitcoin liquidations have reset the market and have created a platform for Bitcoin to rally in the short to medium term.
Corporations Are Increasingly Buying Bitcoin
Besides the technicals and whales buying Bitcoin, corporate buying is rising. In the latest corporate moves into Bitcoin, a Bitcoin-focused company called Strive, which Vivek Ramaswamy backs, recently announced that it is acquiring Semler Calculator in a stock transaction worth $1.34 billion.
Through the deal, Strive will buy 5816 Bitcoin valued at $675 million. This brings the total Bitcoin holdings of the new corporation to 10,900 Bitcoin. As companies like Strive follow the footsteps of Strategy in accumulating Bitcoin, the odds are that the price will go up. That’s because all this buying is chasing a shrinking amount of Bitcoin.
🚨 Strive $STRV is acquiring Semler Scientific $SMLR in an all-stock deal, as being reported by @Blockworks_ x Bloomberg
Is this the beginning of $BTC Treasury Company merger mania?
Strive now holds 10,900 #Bitcoin on its balance sheet. pic.twitter.com/IT2vjkUSDf
— ₿IGRYAN 🟠 (@BigRyanPark) September 22, 2025
Macro Environment Favors Bitcoin
The macro environment also favors Bitcoin in the short to medium term. The Federal Reserve recently cut interest rates by 0.25 basis points. While the markets are unsure whether another rate cut is coming in September, the odds are that monetary easing going into 2026 has started. The result is that money is likely to keep flowing into risk-on assets. Bitcoin, being one of the best risk-on assets, could see a strong flow of capital in the foreseeable future.
Technical Analysis – Bitcoin Price Consolidating After Brief Weekend Rally
Bitcoin is consolidating between the $112,309 resistance and $111,655 support after a brief weekend rally. If bulls take control and push Bitcoin through the $112,309 resistance, a rally to $113,823 could follow.
On the other hand, if bears take control and push Bitcoin through the $111,655 support, then a correction to $109,399 could follow. Of these two scenarios, a rally to $112,309 is more likely due to the rising whale buying of Bitcoin.
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