BTC and ETH Whale Balances Rise 6.6% as Accumulation Signals Late Bear Market Phase

Large holders of BTC, ETH, and XRP are increasing positions despite price pressure. While this aligns with late-cycle bear characteristics, CryptoQuant warns the market bottom is not yet confirmed.

Woofun AI data shows that large holders of Bitcoin, ETH, and XRP are expanding their supply holdings as prices approach or drop below realized values. This accumulation pattern reduces downward selling pressure and mirrors typical late-stage bear market dynamics. Excluding exchanges, mining pools, ETFs, and digital asset treasury firms, Bitcoin whale balances recovered from a December 2025 low of approximately 2.87 million BTC to roughly 3.06 million BTC. Accumulation accelerated in June when Bitcoin fell below $60,000, with positive 30-day growth sustained through most of 2026.

However, current levels remain below the 2025 bull market peak of 3.23 million BTC, indicating continued room for accumulation. CryptoQuant emphasizes that a definitive market bottom has not been confirmed and further price declines remain possible.