Whales Accumulate as Crypto Market Remains Under Pressure

CryptoQuant, a blockchain analytics firm, reports that Bitcoin, Ethereum, and XRP whales are quietly buying up their coins while smaller investors continue to sell. This trend is a common occurrence in the later stages of bear markets.

The report highlights that large private holders have been steadily increasing their holdings, with Bitcoin wallets holding around 3.06 million BTC and Ethereum wallets adding 1.8 million ETH since mid-2025. These figures do not include coins held by exchanges or other institutional investors.

CryptoQuant's head of research, Julio Moreno, noted that this accumulation pattern is consistent with the final phase of a bear market's decline. However, he cautioned that prices could still fall before reaching a confirmed bottom, and the risk-reward ratio has not yet reached its lowest point.