Whales Signal Possible Final Phase of Bear Market

Recent on-chain data from CryptoQuant reveals that large investors, known as whales, have been increasing their positions in Bitcoin, Ethereum, and XRP during the ongoing price downturn.

This behavior is historically associated with the later stages of a bear market, but the analytics firm cautions that further price declines cannot be ruled out before a definitive bottom is confirmed.

The data shows a trend of accumulation among whale addresses across the three major cryptocurrencies, which aligns with previous market cycles where institutional and high-net-worth investors gradually build positions during prolonged price declines.

This activity often suggests confidence in long-term value, even as retail sentiment remains cautious. However, the firm notes that the market may still experience additional downside, as historical cycles have shown that bottoms are rarely declared in real-time, and false signals can occur.