Bitcoin (BTC) reclaimed $112,000 late on Sunday/Monday morning, recovering some of the losses sustained during last week’s price slump. The recovery comes as investors are growing ahead of the fourth quarter, supported by an $800 million jump in open interest and rising funding rates. The flagship cryptocurrency rallied on Sunday, rising over 2% to reclaim $112,000 and settle at $112,197. The price is up over 1% during the ongoing session, trading around $113,805. Countries To Ramp Up Bitcoin (BTC) Purchases Jan3 founder Samson Mow believes countries are preparing to ramp up Bitcoin (BTC) adoption after initial skepticism. Mow stated, “I think we’re on the tail end of gradually, and we’re at the beginning phases of suddenly. These things happen very quickly.” Speaking on the What Bitcoin Did podcast, Samson stated that countries are warming up to the idea of a strategic Bitcoin reserve, adding, “It’s like literally gradually, then suddenly. I think it is simply a matter of time before we see a massive run-up, and we see a massive nation-state FOMO, you know, panic.” However, Mow emphasized that while President Donald Trump had signed an executive order for a Bitcoin reserve, the US had yet to begin buying. Bitcoin Whale Moves Funds After 12 Years A dormant Bitcoin wallet holding $44 million worth of BTC has moved the funds for the first time in 12 years, according to data from Lookonchain. Data shows the wallet transferred around 400 BTC in equal batches of 15, roughly emptying the wallet. While the transaction data does not show the source of the funds, Lookonchain stated that the wallet was funded by miners 15 years ago. The reason behind the transfers also remains unknown, as does the identity of the wallet owner. Satoshi-era Bitcoin wallets have seen a jump in activity as Bitcoin surges to new highs. Holders have been keen to liquidate their holdings and lock in their profits. Galaxy Digital executed one of the largest Bitcoin sales in history, completing a transaction of over 80,000 BTC , valued at more than $9 billion. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has made a strong start to the week as it recovers from last week’s bloodbath. The flagship cryptocurrency registered a marginal decline on Saturday before rallying, rising over 2% to cross $112,000 and settle at $112,197. BTC is up over 1% during the ongoing session, trading around $114,086. Market analyst Jordi Visser stated that BTC’s path to new all-time highs will be littered with major corrections of 20% or more in Q4. Visser compared the flagship cryptocurrency to Nvidia, the world’s most valuable publicly traded company, and the first to reach a $4 trillion valuation, adding that BTC could behave similarly. “I just want to remind people that Nvidia is up over 1,000% since ChatGPT’s launch. During that time period, which is less than three years, you've had five corrections of 20% or more in Nvidia before it went back up to all-time highs. Bitcoin's going to do the same thing.” BTC’s strong recovery is supported by a surge in buying pressure that began on Sunday. As a result, the flagship cryptocurrency has gained over 4% in the past two sessions, undoing the losses from Thursday’s decline. Farzam Ehsani, CEO and co-founder of VALR, stated, “Bitcoin’s Monday morning rise reflects a mix of macro relief, with a softer U.S. dollar and steadier rate expectations, alongside a cleaned-up leverage after recent liquidations and renewed accumulation from larger players.” According to most experts, last week’s losses were largely due to quarter-end rebalancing. Open interest for CME’s Bitcoin futures dropped almost $3 billion to $14.73 billion between September 18 and 25. Meanwhile, options fell to $4.63 billion. Spot Bitcoin ETFs also registered substantial outflows last week as part of the rebalancing. BTC ended the previous weekend in the red, dropping 0.41% to $115,282 on Sunday. Selling pressure intensified on Monday as the price fell by over 2% to $112,736. Sellers retained control on Tuesday with BTC falling 0.64% to a low of $111,502 before settling at $112,017. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising over 1% to reclaim $113,000 and settling at $113,348. Source: TradingView Bearish sentiment returned on Thursday as BTC plunged nearly 4%, slipping below $110,000 and settling at $109,035. The price recovered on Friday, rising 0.61% but was back in the red on Saturday, registering a marginal decline and settling at $109,681. Bullish sentiment intensified on Sunday as BTC rallied, rising over 2% to cross $112,000 and settle at $112,197. Bullish sentiment has persisted during the ongoing session, with BTC up almost 2%, trading around $114,040. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
