Whales Drive Up Bitcoin, Ethereum, XRP During Market Weakness

CryptoQuant's recent Smart Money report highlights an interesting trend in the cryptocurrency market. According to the report, large holders, often referred to as 'whales', have been increasing their positions in Bitcoin (BTC), Ethereum (ETH), and XRP during periods of price weakness.

The report notes that whales have accelerated their purchasing pace since June 2026, coinciding with a drop below the $60,000 threshold. This has led to a significant increase in whale holdings, with BTC reserves reaching nearly 3.06 million units.

CryptoQuant also observed similar behavior in the altcoin market, where wallets holding between 10,000 and 100,000 ETH have reached a record 19.6 million tokens. Addresses holding more than 100,000 ETH have added approximately 1.8 million tokens since mid-2025.

The report also examined on-chain indicators, including the realized price metric, which estimates the average acquisition cost on the blockchain. According to CryptoQuant, the increase in whale balances during periods of price contraction constitutes a historical signal linked to the formation of market bottoms.