Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

Crypto whales accumulate as bear market nears late stage: CryptoQuant

MarketsPublishedAug 5, 2026

Bitcoin, Ethereum and XRP whales increased balances during market weakness, as CryptoQuant stated large holders are absorbing supply ahead of a possible bottom.

Large cryptocurrency holders are accumulating Bitcoin (BTC) and Ether (ETH) as valuations approach levels associated with the final stage of a bear market, as reported by CryptoQuant.

Rising whale balances during price weakness can reduce available supply and concentrate ownership among larger holders, the blockchain analytics company stated in its latest Smart Money report seen by Cointelegraph.

Bitcoin whale holdings, excluding exchanges and mining pools, rose to about 3.06 million BTC from 2.87 million BTC in December 2025, with accumulation accelerating after Bitcoin dropped below $60,000 in June.

Source: CryptoQuant

Ethereum wallets holding 10,000 to 100,000 ETH collectively held a record 19.6 million ETH, while wallets holding more than 100,000 ETH added roughly 1.8 million ETH since mid-2025.

In XRP markets, average spot order sizes remained in CryptoQuant’s “big whale” category as the token traded between $1 and $1.20. nevertheless, neutral 90-day taker cumulative volume delta suggested passive absorption rather than aggressive buying, the report stated.

Related: Bitcoin may have bottomed before its traditional cycle low: Grayscale’s Pandl

Valuations point to late-stage bear market

CryptoQuant also pointed to realized price, an estimate of the market’s average onchain cost basis, as evidence that the market may be approaching a bottom.

Bitcoin traded at $63,935 at the time of writing, as reported by CoinGecko, above its realized price of $52,900. Ether traded at $1,858, below its realized price of about $2,450. XRP traded at roughly $1.10 compared with a realized price of about $0.75.

“Rising whale balances into price weakness is the clearest smart-money tell,” CryptoQuant stated, adding that the accumulation pattern has historically preceded market bottoms while cautioning that the market remains exposed to further downside.

CryptoQuant’s analysis comes as other researchers have also identified potential bottoming indicators.

On Monday, 10x Research stated Bitcoin could confirm a bear-market bottom with a monthly close above $63,000. K33 stated in a July 7 report that Bitcoin has historically reached cycle lows within weeks after more than half of its circulating supply was held at a loss.

Magazine: Do the Coldcard attacks mean all hardware wallets are now insecure?

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Ether Price
• XRP
• Whale
• Bitcoin

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