Whale Accumulation in Cryptos Points to Bear Market End
CryptoQuant's analysis suggests that large holders of major cryptocurrencies are increasing their holdings during a period of price weakness.
This trend could be an accumulation signal tied to the late stage of a bear market, according to CryptoQuant. The firm notes that when whale balances rise during weak price periods, the supply available in the market can shrink and holdings become more concentrated among large players.
CryptoQuant observed this pattern in Bitcoin (BTC), where whale holdings excluding exchanges and mining pools rose from 2.87 million BTC in December to around 3.06 million BTC. A similar trend was seen in Ethereum (ETH), with wallet balances of 10,000 ETH to 100,000 ETH reaching an all-time high of 19.6 million ETH.
In the XRP market, whale activity was also observed despite low trading prices between $1 and $1.20. The firm's analysis suggests that this could be a sign of passive absorption of supply rather than aggressive buying.