Whales Keep Buying and Betting on Bitcoin — $116K Next?

Whales are bullish on Bitcoin (BTC) with multiple positive on-chain signals and expert analysis surfacing despite recent consolidation.

On-chain data shows that an anonymous crypto wallet accumulated 3,195 BTC from the Kraken cryptocurrency exchange, and an unlabeled address, which seems to be an over-the-counter dealer.

Whale bc1qd3 has accumulated 3,195 $BTC($356.6M) in the past 3 hours.https://t.co/huOxKK9ANP pic.twitter.com/H5nNUyumm3

— Lookonchain (@lookonchain) October 26, 2025

According to Lookonchain, the total amount of the accumulated Bitcoin reached $356.6 million early on Sunday, Oct. 26.

Some community members responded to Lookonchain’s X post with positive expectations like “Whale knows something.”

Another whale on Hyperliquid, a decentralized perpetual futures exchange, put a $16.6 million long bet with 40x leverage on Bitcoin.

Whale 0xC50a opened a 40x long on 149 $BTC($16.6M) and a 10x long on 284,501 $HYPE($12.5M) over the past 12 hours.https://t.co/qh4hmDxN4G pic.twitter.com/pdEgDpoaEB

— Lookonchain (@lookonchain) October 26, 2025

The anonymous address also opened a 10x long position, worth $12.5 million, on the platform’s native token Hyperliquid (HYPE).

Will Bitcoin Break $115,000?

Bitcoin recorded consecutive gains over the past six Octobers. This time, however, the asset is down by 2.1% as it started this month around the $114,000 mark.

With the latest whale bets on Bitcoin, the crypto community has started to publish positive X posts with bullish expectations.

Even the famous influencer “Lucky” replied that the “hype is real.”

HyPe is real

— Lucky (@LLuciano_BTC) October 26, 2025

According to crypto analyst KillaXBT, the current Bitcoin consolidation below $114,000 is similar to the 2021 bull market.

$BTC

BTC keeps consolidating below 114–116K because it’s retesting the weekly trend line, a similar setup to what we saw in the previous cycle.

Failure to break above 116K in the near term could lead to a similar pattern unfolding. pic.twitter.com/OYDTb0L1ao

— Killa (@KillaXBT) October 25, 2025

The analyst expects another correction if Bitcoin fails to break the $116,000 mark in the “near term” due to the token’s historical patterns.

He also added, in a response to a user who claimed that the industry has institutional interest now, that the interest from BlackRock doesn’t actually come from institutions or whales, but retail investors.

“All the ETF really did was make it easier for boomers to buy Bitcoin through their usual channels with BlackRock simply acting as the custodian of those assets,” KillaXBT wrote.

If major whales trigger the fear of missing out among retail investors, coupled with favorable macro conditions, Bitcoin, and the rest of the crypto market, will likely continue to accumulate.

next

The post Whales Keep Buying and Betting on Bitcoin — $116K Next? appeared first on Coinspeaker.