Crypto whales accumulate Bitcoin, Ether, XRP in bear market

Large cryptocurrency holders, often called whales, have been accumulating Bitcoin and Ether during a period of price weakness, a pattern that historically aligns with the late stages of a bear market, according to a new analysis from blockchain analytics firm CryptoQuant. The firm's latest Smart Money report indicates that while this accumulation can signal a potential market bottom, it does not guarantee an immediate price reversal and further downside remains possible.

The data shows Bitcoin whale holdings, excluding exchange and mining pool addresses, rose to approximately 3.06 million BTC, up from about 2.87 million BTC in December 2025. The firm noted that accumulation accelerated after Bitcoin's price fell below $60,000 in June. For Ethereum, wallets holding between 10,000 and 100,000 ETH collectively reached a record high of 19.6 million ETH. Meanwhile, the cohort of wallets holding more than 100,000 ETH added roughly 1.8 million ETH since mid-2025.

CryptoQuant also examined XRP, where average spot order sizes have remained in the "big whale" category as the token traded between $1.00 and $1.20. However, a neutral 90-day taker cumulative volume delta suggests this...