Bitcoin regained ground on Monday, rising 2.2% to $111,790.8 at 02:31 ET (06:31 GMT) after sliding to a three-week low below $109,000 last week. The rebound follows a difficult stretch in which the world’s largest cryptocurrency shed more than 5% amid heavy liquidations and options-related pressure.
The latest upswing reflects renewed buying from major investors, often referred to as “whales,” who stepped in after last week’s turbulence. Analysts say such activity helped stabilize sentiment following a volatile quarter-end marked by outsized derivative expirations.
Whale Activity and Market Headwinds
Blockchain trackers showed that whales increased accumulation, countering the steep losses triggered by a wave of liquidations that erased nearly $1.5 billion in long positions in just one day. That sell-off coincided with the expiration of $22 billion in crypto options contracts, heightening downward pressure across digital assets.
Still, broader investor mood remains cautious. Traders are watching developments in Washington as Congress faces a Sept. 30 deadline to approve funding and avoid a government shutdown. A prolonged standoff could delay key economic reports such as the nonfarm payrolls, creating fresh uncertainty for risk assets, including cryptocurrencies.
In corporate news, crypto exchange Kraken is reportedly in advanced talks to raise new capital that could value the firm at $20 billion, Bloomberg reported. The funding round may bring in $200 million to $300 million from a strategic investor, signaling rising institutional interest even as volatility persists.
Key drivers shaping Bitcoin’s near-term outlook:
- Whale accumulation supporting price recovery
- $1.5B in liquidations triggered last week
- $22B options expiry adding volatility
- U.S. shutdown risks fueling global caution
- Kraken seeking $20B valuation in fresh round
Altcoins Show Modest Gains
Altcoins also staged a rebound on Monday after steep weekly declines, though trading remained rangebound.
- Ethereum (ETH): +2.4% to $4,102.83 after a 10% weekly drop
- XRP: +2.2% to $2.85
- Solana (SOL): +3.5%
- Cardano (ADA): +3.1%
- Polygon (MATIC): +1.2%
- Dogecoin (DOGE): +2%
- $TRUMP token: +1.8%
The gains suggest tentative buying interest but highlight that cryptocurrencies remain sensitive to both macroeconomic shifts and regulatory developments.