Major cryptocurrencies traded on a bullish note on Monday, led by gains in Bitcoin and Ethereum. While Bitcoin traded at $111,849, Ethereum hovered around $4,120. Market experts say BTC is maintaining strong upward momentum, supported by whale accumulation. In just one week, whales purchased $3.3 billion worth of BTC, followed by $1.73 billion in ETH 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. For now, a decisive close above $112,600 could further strengthen Bitcoin’s momentum, with support standing at $107,900,” said Edul Patel, CEO of Mudrex.

Another analyst noted that the drop in Bitcoin’s dip below key averages over the past week isn’t a death knell but a cleansing.Also Read | Explained: Want to build Rs 1 crore corpus? Here’s how much you need to invest monthly

“Bitcoin’s dip below key averages isn’t a death knell but a cleansing. Flushing out leveraged longs wipes the slate clean, resets positioning, and builds a healthier footing. With funding rates turning negative, the stage is set for stronger hands to drive the next move higher, reinforcing our bullish stance despite short-term turbulence,” said Parth Srivastava, Head of Quant, 9Point Capital’s Research Team.

At 10:14 AM IST, Bitcoin was trading at $111,898 on Monday. BTC went up by 2.25% over the past 24 hours and was down nearly 2.30% over the past week. Ethereum, meanwhile, was at $4,122, gaining 2.92% in the past 24 hours and falling 4.18% over the last seven days.

According to CoinMarketCap data, the crypto sector’s overall market capitalisation stood at around $3.86 trillion on Monday.

Here is what another expert says

Sathvik Vishwanath, Co-Founder & CEO, Unocoin

Bitcoin is currently trading around $111,700 amid heightened volatility and macro uncertainty. Recent breakdowns below key support levels signal short-term bearish sentiment, with momentum indicators like MACD and RSI turning negative. A “death cross” looms, suggesting possible continued downside unless strong buying interest returns.

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The macro backdrop—marked by hawkish Fed policy and risk-off sentiment—adds pressure. However, institutional interest and post-halving supply constraints may support longer-term bullish potential. Key resistance lies near $115,000, with support around $110,000 and $103,000. A break in either direction could define Bitcoin’s next major move. Investors remain cautious yet watchful of structural bullish catalysts.

Crypto whales

According to Coinbase, a crypto whale is a term used within the cryptocurrency community to refer to individuals or entities that hold large amounts of cryptocurrency.