Bitcoin (BTC) price dropped near $111,000 on Sept. 25, despite the token’s brief recovery from the previous day. The drop came after a stronger US dollar weighed on risk assets, and gold’s rally stalled. BTC price drop resulted in the token reaching a daily low near $111,480, almost erasing all gains from Sept. 24 and hinting at a crabbing price action in BTC’s immediate future.
The heavy liquidations during the Sept. 23 crash erased more than $1.5 billion across the crypto market. However, Michael Saylor remained bullish on Bitcoin, claiming that ETF inflows and corporate treasuries were now absorbing more BTC than miners produced, a trend he argued would lift prices once macro pressure eased.
Meanwhile, U.K.-based firm B HODL Plc recently allocated $11.3 million to acquire 100 BTC, offering a fresh example of listed firms turning to Bitcoin as a treasury reserve.
Saylor Says Corporate Demand Shapes the Bitcoin Debate
Michael Saylor recently appeared on CNBC’s Closing Bell Overtime, discussing Bitcoin’s role as a corporate asset and a potential national reserve. The former Strategy CEO told host Morgan Brennan that he had met with policymakers in Washington to promote a “strategic Bitcoin reserve bill,” arguing that the U.S. should own a significant share of cyberspace just as it once accumulated gold.
Saylor argued that the real market driver was no longer retail speculation but structural demand. The veteran investor said spot ETFs led by BlackRock continued to absorb all new issuance, while more than 180 companies had already placed Bitcoin on their balance sheets.
According to him, these firms fell into two groups. Operating companies shifted idle cash away from dividends, buybacks, or low-yield money markets. Treasury-style firms positioned Bitcoin as digital gold, building new equity and credit instruments backed by it.
Saylor contrasted “operating companies” shifting idle cash with “treasury companies” treating Bitcoin as digital gold. That distinction was not limited to the United States. In the UK, B HODL Plc mirrored the trend when it allocated $11.3 million to acquire 100 BTC as part of its treasury launch. The firm’s move signaled that smaller public companies were also beginning to adopt Bitcoin as a balance-sheet asset.
The Strategy founder then addressed comparisons with gold, noting that bullion’s rally to $3,800 an ounce showed clear appetite for scarce bearer assets. Saylor stressed that Bitcoin outperformed gold in portability and programmability, describing it as the technology-native form of money.
The timing underscored his point. Bitcoin traded weaker on the day, pressured by a stronger U.S. dollar and stalled commodity rallies. Yet Saylor said these macro headwinds were temporary, insisting the demand-supply imbalance would eventually push Bitcoin much higher.
Analysts Weigh Options Pressure Against Seasonal Signals
Saylor’s argument about a tightening supply base echoed market discussions, though analysts framed it through price action. The near-term picture still looked fragile, with options expiries and macro headwinds shaping sentiment. Yet many analysts pointed to familiar patterns that often defined Bitcoin’s cyclical moves.
Ted said Bitcoin usually bottomed in September and flagged the looming expiry of $17.5 billion in options. With a max pain point at $107,000, the analyst argued that the token often gravitated toward such levels during significant expirations. Ted’s chart showed prior September reversals, though he added that another leg down could arrive before a recovery took hold. The expiry event, set against broader dollar strength, reinforced the possibility of short-term weakness.
Furthermore, veteran analyst Michaël van de Poppe focused on shorter time frames. Van de Poppe noted that the BTC USD pair defended support near $111,900, calling the daily candle a constructive sign.
The analyst’s chart suggested that a retest of higher resistance zones remained possible if the support held. That view contrasted with options-driven caution, but it reflected how traders often looked for reversals after heavy liquidations.
CRYPTOWZRD, a market signals account on X, tied Bitcoin’s next move to gold.
The analyst argued that major rallies in the token had historically followed parabolic moves in bullion, with Q4 often marking the turning point. Their post was built on Saylor’s gold analogy, though it left open the timing of any breakout.
Meanwhile, MMCrypto framed the discussion in a wider perspective. The analyst sought to soothe the masses by stating that the bear confirmation sat much lower, at $96,000. That level implied that despite near-term downside risks, the broader structure stayed intact. It offered context to the more bullish takes, showing that Bitcoin retained a cushion before its uptrend would face a structural threat.
