CryptoQuant: BTC, ETH, and XRP Whales Are Accumulating, Potentially Signaling the Late Stage of a Bear Market

Odaily reported that CryptoQuant stated that as crypto asset prices remain under pressure, large holders are increasing their positions in Bitcoin, Ethereum, and XRP, indicating they may be preparing for the next market cycle.

The firm believes this behavior suggests the current bear market may have entered its final phase. However, CryptoQuant also emphasized that the market has not yet confirmed a bottom, and prices could still decline further.

CryptoQuant Research Head Julio Moreno stated that the largest holder groups of BTC, ETH, and XRP are increasing their supply holdings as prices approach or fall below their realized prices. This shift in positioning helps reduce downward pressure and aligns with characteristics typical of the late stage of a cyclical downturn.

Data shows that, excluding exchanges and mining pools, Bitcoin whale balances have rebounded from a low of approximately 2.87 million BTC in December 2025 to roughly 3.06 million BTC. This data also excludes holdings by ETFs or digital asset treasury companies.

CryptoQuant noted that Bitcoin whale holdings have maintained a positive 30-day growth for most of 2026, and accumulation intensified when Bitcoin fell below $60,000 in June. However, current whale balances remain below the 2025 bull market peak of approximately 3.23 million BTC, suggesting there is still room for continued accumulation.