Crypto climbs on whale buying; cautious institutions eye selective re-entry

The rebound in the crypto markets, analysts said, suggests cautious institutional re-entry, but also underlines that macroeconomic signals and ETF flows will remain pivotal

The cryptocurrency market witnessed a rebound on Monday, September 29, as flagship currencies Bitcoin (BTC), Ethereum (ETH), and major altcoins were trading with gains, as whale accumulation adds support to the market. The analysts believe that the rebound suggests cautious institutional re-entry but also underlines that macroeconomic signals and ETF flows will remain pivotal in determining whether this recovery matures into a sustained uptrend.   

The recent rebound in the crypto market, with a over 2 per cent recovery after a 4 per cent weekly dip, Riya Sehgal, research analyst, Delta Exchange, said, highlights the tug-of-war between buyers. 

Bitcoin rebounds on whale accumulation

Bitcoin has respected its $110,000 support and is now testing the $112,000–$114,000 supply zone. At last check, Bitcoin was trading with gains of 2.4 per cent at $111,665, with a 24-hour trading volume of $39.58 billion, according to data from CoinMarketCap. The flagship asset has oscillated between $109,236 and $112,375 in the last 24 hours.  Bitcoin's market capitalisation remained steady at $2.33 trillion, reinforcing Bitcoin’s status as the world’s largest digital asset. That said, Bitcoin is still over 10 per cent down from its peak of $124,457, scaled on August 14 this year.

 

The upward movement in Bitcoin, Edul Patel, CEO of Mudrex, said, is aided by whale accumulation. In just one week, whales bought $3.3 billion worth of BTC, followed by $1.73 billion in ETH accumulation later in the week. "This shows increased confidence in crypto, ahead of the fourth quarter. While ETFs saw significant outflows last week, whales absorbed the selling pressure, putting BTC back on the bullish track," said Patel.

 

From a technical point of view, Patel believes a decisive close above $112,600 could further strengthen Bitcoin’s momentum, with support standing at $107,900.

 

Sehgal, on the other hand, said that a decisive break above $114,000, she believes, "could fuel further bullish momentum, potentially triggering significant short liquidations, while a failure would likely keep BTC range-bound."

Ethereum rises 2%; sees resistance at $4,210–$4,260 region

Ethereum (ETH), which enjoys the position of the second-largest cryptocurrency by market cap, shows a similar dynamic—though it’s recovering, it remains capped under major trendline resistance at $4,210. At last check, ETH was trading at $4,101, up 2.28 per cent, with intraday price fluctuations between $3,969 and $4,145. Ethereum's trading volume reached $27.54 billion. Despite its recovery, Ethereum remains approximately 17 per cent below its peak of $4,953, scaled on August 25, 2025.

 

For Ethereum, Sehgal believes unless the asset breaks through the $4,210–$4,260 region, sellers could regain control, risking a retest of the $4,000–$3,820 levels.

Altcoins shine; MYX Finance outperforms

The favourable sentiment extended to other altcoins as well. MYX Finance (MYX) led the gains among the altcoins with a rally of 27 per cent on CoinMarketCap. Zcash (ZEC), Pump.fun (PUMP), Aethir (ATH), Story (IP), Astar (ASTER), 0G (0G), Hyperliquid (HYPE), Curve DAO Token (CRV), Worldcoin (WLD), and Sui (SUI) were the other gainers for the day with a rally of up to 15 per cent.

 

Conversely, ether.fi (ETHFI), TRON (TRX), and dogwifhat (WIF) fell by up to 1 per cent.