Bitcoin, Ether, and XRP Whales Accumulate Ahead of Potential Market Turnaround

CryptoQuant's research suggests that large crypto holders are accumulating Bitcoin (BTC), Ether (ETH), and XRP, which may signal a 'late-stage bear market'. This positioning could be preparing them for the next market cycle.

The firm noted that across these three assets, the largest cohorts are adding supply as prices sit near or below their realized prices. The data excludes exchange-traded funds or digital asset treasury companies.

Bitcoin whale balances have climbed to about 3.06 million BTC after bottoming at 2.87 million BTC in December 2025. Positive 30-day growth has been recorded for most of 2026, with accumulation increasing when bitcoin's price fell below $60,000 in June.

However, the current whale balances remain below the 2025 bull-market peak of about 3.23 million BTC, leaving room for further accumulation.

In addition to Bitcoin, larger Ether holders are accumulating while smaller holders continue to sell. Wallets holding between 10,000 and 100,000 ETH have increased their balances from about 14 million ETH in mid-2025 to a record 19.6 million ETH.

The 'mega whales' or wallets holding more than 100,000 ETH have added around 1.8 million ETH since mid-2025, an increase of roughly 70%. Their combined balance rose from about 2.6 million ETH to around 4.6 million ETH and remains near record levels.

XRP whales are 'quietly positioning' as spot order sizes stay in 'big whale' territory even as XRP's price holds the $1.00-$1.20 range. However, cumulative volume delta (CVD) has moved into 'neutral' territory, suggesting accumulation by absorption rather than aggressive market buying.

The realized prices for each asset show that Bitcoin is currently trading above its realized price of $52,900, while XRP is trading near $1.10 compared to a realized price of about $0.75. Ether is trading below its realized price at around $1,900 compared to a realized price of about $2,450.