Crypto Whales Accumulate BTC and ETH as Bear Market Valuations Approach

CryptoQuant's latest Smart Money report reveals that large cryptocurrency holders are accumulating Bitcoin and Ether as valuations approach levels associated with the final stage of a bear market.

The report states that rising whale balances during price weakness can reduce available supply and concentrate ownership among larger holders, which has historically preceded market bottoms.

CryptoQuant analyzed data from December 2025 to present and found that Bitcoin whale holdings rose by approximately 300,000 BTC to around 3.06 million BTC, with the majority of accumulation happening after Bitcoin dropped below $60,000 in June.

Ethereum wallets holding between 10,000 and 100,000 ETH collectively held a record 19.6 million ETH, while those holding more than 100,000 ETH added roughly 1.8 million ETH since mid-2025.