Crypto Whales Accumulate: Is a Bull Market Coming?

In the cryptocurrency market, large whales are accumulating Bitcoin, Ethereum, and XRP during the weakening market. According to CryptoQuant's latest report, large investors are increasing their accumulation as the market approaches a possible bottom.

Whale Accumulation and Market Weakness

■Bitcoin whale holdings rose to 3.06 million BTC from 2.87 million BTC in December 2025.

■Ethereum wallets holding 10,000 to 100,000 ETH collectively held a record 19.6 million ETH.

■In XRP markets, average spot order sizes remained in the "big whale" category.

Market Indicators and Analysis

CryptoQuant pointed to the realized price as an indicator of the market's average cost basis, suggesting that the market may be approaching a bottom. Bitcoin's realized price is $52,900, while Ethereum's is around $2,450.

Investor Reaction

The accumulation by large whales is often seen during market weakness and can be a sign that the market is approaching a bottom. However, CryptoQuant cautioned that the market remains exposed to further downside.

The observed whale accumulation in the cryptocurrency market is often a sign that the market is approaching a bottom during periods of weakness. The accumulation trends of Bitcoin and Ethereum continue to attract institutional investors. However, the market's volatility and uncertainty require investors to be cautious.

■Cem Talu, Head of Crypto Assets Strategy