Altcoin Exchange Outflows and Whale Activity Signal Final Bear Market Stage

• Santiment recorded the largest daily PEPE outflow from exchanges since November 2024 — 4.54 trillion tokens.
• Another 1.26 million LINK was also withdrawn from exchanges — the largest daily outflow since late June.
• CryptoQuant said that large holders of BTC, ETH, and XRP continue to accumulate assets despite the bear market.
• Analysts believe the market may be in the final stage of the bear cycle, although the risk of further price declines still remains.

Santiment analysts reported the largest net outflow of PEPE and Chainlink (LINK) tokens from centralized exchanges in recent months. At the same time, CryptoQuant said that large holders of bitcoin, Ethereum, and XRP continue to accumulate assets, which may indicate the bear market is in its final stage.

According to Santiment, 4.54 trillion PEPE was withdrawn from centralized exchanges over the past day — the token’s largest net outflow since November 14, 2024. Analysts noted that shrinking exchange reserves means fewer coins are available for quick selling, potentially reducing the risk of a sharp price drop.

Santiment also noted that over the past two months, PEPE has mostly traded sideways, while the memecoin market has been in a capital rotation phase. They also pointed to a previously filed application to launch a PEPE-linked ETF, with a decision expected later this year.

Separately, the firm reported a net daily outflow of 1.26 million LINK — the largest since June 29.

According to analysts, the decline in LINK supply on exchanges coincides with positive fundamental developments. In particular, in July, DTCC conducted operations involving tokenized U.S. securities, where Chainlink was among the technology partners, and the CCIP protocol expanded integrations with institutional and crypto networks, including Canton and Robinhood Chain.

CryptoQuant said that the market’s largest players continue to increase their positions in major crypto assets. According to the firm:

• bitcoin whale reserves (excluding exchanges and mining pools) rose to around 3.06 million BTC, with active accumulation taking place during the drop below $60,000 in June
• large XRP holders are keeping sizable spot orders in the $1–$1.2 range, which analysts say points to accumulation without aggressive market buying
• addresses holding between 10,000 and 100,000 ETH increased their reserves to a record 19.6 million ETH, while wallets with more than 100,000 ETH have accumulated around 1.8 million ETH since mid-2025.

In addition, CryptoQuant noted that current market valuations for bitcoin, Ethereum, and XRP are approaching historical undervaluation zones.

Analysts believe that this combination of factors points to an improved risk-to-reward profile.

“Selling pressure is easing as large holders accumulate assets, signaling the final stage of the bear market. At the same time, from a valuation perspective, there is still some room for further price declines until the market bottom is definitively confirmed,” CryptoQuant concluded.

Previously, Wintermute analysts said there were signs that the bear cycle in the crypto market was coming to an end.

Сообщение Altcoin Exchange Outflows and Whale Activity Signal the Final Stage of the Bear Market появились сначала на INCRYPTED.