Whales Accumulate Bitcoin and Ether as Prices Weaken

CryptoQuant's latest Smart Money report analyzed large 'whale' holder behavior and found that they are accumulating more Bitcoin and Ether during a period of price weakness, a pattern often associated with market bottoms.

The firm reported that whale balances for BTC have risen to approximately 3.06 million, up from around 2.87 million in December 2025, while Ethereum wallets holding between 10,000 and 100,000 ETH collectively reached a record 19.6 million ETH.

CryptoQuant's research suggests that the whales' accumulation of Bitcoin during price weakness may be a sign that the market is approaching a bottom, although it does not guarantee an immediate reversal. The firm also noted that Ethereum wallets with more than 100,000 ETH added around 1.8 million ETH since mid-2025.

The report also highlighted some nuance in the XRP markets, where 'big whale' spot order sizes remained elevated, but a neutral 90-day taker cumulative volume delta suggests passive absorption rather than aggressive buying.