Bitcoin is holding at $115,800 after up 4% this week. Institutional demand is driving the recovery. Spot Bitcoin ETFs saw $642 million in inflows on September 12, back-to-back days of big buying. For context, weekly inflows were $2.3 billion with Fidelity’s FBTC and BlackRock’s IBIT leading the way.
Fidelity recorded $315 million in daily inflows, while BlackRock drew $264 million, cementing IBIT’s role as the most active U.S. Bitcoin ETF with $3.2 billion in trading volume.
This surge coincides with expectations that the Federal Reserve could cut rates at its upcoming meeting, with traders weighing the possibility of a 25-basis-point move, and even a slim chance of a larger 50-point cut.
Lower rates would ease financial conditions and increase demand for alternative assets like Bitcoin, which has historically done well in dovish monetary environments.
On-chain data points to whale accumulation
Beyond ETF flows, on-chain data shows large holders are accumulating. Whales have added over 237,000 BTC in recent months while smaller traders are taking profits. The number of active addresses is high, despite volatility.
Analysts say this type of accumulation typically precedes parabolic moves, with whales serving as the early drivers before retail momentum takes hold.
The market is optimistic, with the Altcoin Season Index still on the rise and capital shifting across the asset class. But Bitcoin is the first to benefit when institutions scale up.
Technical outlook for Bitcoin price
On the technical front, Bitcoin price prediction seems bullish. On the daily chart, BTC broke out of the descending channel that dominated September.
Price has reclaimed the 50-day SMA at $114,509 and is now testing the $117,500 level. Big green candles, bullish engulfing pattern, and RSI at 59. Room to go up.

If BTC clears $117,500 with volume, it opens the way to $119,500, followed by $122,200 and $124,500. On the downside, $114,800 provides near-term support, while $110,856 is the critical structural floor.
For traders, the setup favors long entries above $117,500 with stops under $114,500, targeting $119,500 initially.
For investors, the broader trend suggests that Bitcoin may be laying the groundwork for a rally that extends toward $130,000 by year-end, especially if ETF inflows remain strong and the Fed’s cuts deliver liquidity tailwinds.
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