Crypto Whales Accumulate Big Amid Bear Market

Crypto whales are quietly accumulating large amounts of Bitcoin, Ethereum, and XRP during the current bear market, according to on-chain data from CryptoQuant.

This behavior is historically observed toward the end of bear market cycles, reigniting questions about whether the market is close to a bottom.

CryptoQuant's analysis points to several indicators that have historically coincided with the terminal phases of bear markets, including compression of miner margins and a decline in transactions in profit.

The on-chain data shows that available supply on exchanges is thinning out as whales withdraw their assets from trading platforms to place them in cold storage, which often precedes a price recovery.