Large holders of bitcoin, ether, and XRP are adding to their positions even as prices stay under pressure, CryptoQuant said. The research firm reads the pattern as a sign the current bear market is entering its final stage, though it cautions a bottom is not yet confirmed.
Bitcoin, ether, and XRP whales are buying while prices stay under pressure. CryptoQuant said the buying signals the bear market is likely in its final stage, though it added the market has not yet reached a confirmed bottom and prices may fall further first.
Bitcoin whales climb toward their 2025 highs
Bitcoin whale balances, excluding exchanges and mining pools, have climbed to about 3.06 million BTC after bottoming near 2.87 million BTC in December 2025, CryptoQuant said.
Holdings posted positive 30-day growth for most of 2026, and accumulation picked up once bitcoin's price fell below $60,000 in June. Balances still trail the 2025 bull-market peak of about 3.23 million BTC, CryptoQuant said, leaving room for further buying. Bitcoin now trades around $64,640, above its realized price of $52,900 — a gap CryptoQuant said has narrowed before previous bear markets reached their final stage.
Ether's biggest wallets absorb the sell-off
Wallets holding 10,000 to 100,000 ETH have accumulated without pause, lifting their balances to a record 19.6 million ETH, up from about 14 million ETH in mid-2025, CryptoQuant said.
Smaller holders are moving the other way: wallets with 1,000 to 10,000 ETH have cut their stake to 12.9 million ETH from about 15.6 million ETH in January this year. Meanwhile, "mega whales" holding more than 100,000 ETH have added about 1.8 million ETH since mid-2025, a roughly 70% increase, lifting their combined balance to around 4.6 million ETH, near record levels.
According to CryptoQuant's head of research, Julio Moreno: "This is what accumulation looks like in a bear market: strong hands absorbing weak-hand supply." Ether is trading below its realized price, at around $1,900 compared with about $2,450.
XRP whales position quietly as CVD turns neutral
XRP whales are positioning quietly, CryptoQuant said, with spot order sizes staying in whale-sized territory even as the price holds the $1.00–$1.20 range.
Cumulative volume delta, a measure of aggressive buying and selling, has moved into neutral territory, which CryptoQuant said points to accumulation by absorption rather than aggressive market buying. XRP trades near $1.1, compared with a realized price of about $0.75.
Source: The Block
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