Odaily Planet Daily reports that CryptoQuant says, as cryptocurrency prices continue to face pressure, large holders are increasing their positions in Bitcoin, Ethereum, and XRP, suggesting they may be preparing for the next market cycle.
The institution believes this behavior suggests the current bear market may be entering its final stage. However, CryptoQuant also emphasizes that the market has not yet confirmed a bottom, and prices could still decline further.
Julio Moreno, Head of Research at CryptoQuant, said that the largest holder groups in BTC, ETH, and XRP are increasing their supply holdings as prices approach or fall below the realization price. This shift in positioning helps reduce downward pressure and aligns with characteristics typical of the late stage of a market cycle downturn.
Data shows that, excluding exchanges and mining pools, Bitcoin whale balances have rebounded from a low of approximately 2.87 million BTC in December 2025 to around 3.06 million BTC. This data also excludes holdings by ETFs or digital asset treasury companies.
CryptoQuant reports that Bitcoin whale holdings experienced positive 30-day growth for most of 2026, with accumulation intensifying when Bitcoin fell below $60,000 in June. However, current whale balances remain approximately 3.23 million BTC below the 2025 bull market peak, indicating further accumulation potential ahead.