TL;DR:
- Bitcoin whale holdings reached 3.06 million BTC after intensifying their purchases when the price fell below $60,000.
- Wallets with over 100,000 ETH added approximately 1.8 million Ether since mid-2025, setting historical accumulation records.
- Bitcoin’s realized price stood at $52,900, while Ether traded at $2,450 and XRP at $0.75.
Large holders are increasing their positions in digital assets while market valuations approach levels characteristic of an ending bear cycle. In that sense, a recent report from CryptoQuant reveals that whales are driving Bitcoin, XRP, and Ethereum by absorbing available supply when prices falter.
Supply Accumulation in Phases of Weakness
The analytics platform detailed in its Smart Money report that Bitcoin reserves held by whales—excluding exchanges and mining pools—rose to nearly 3.06 million BTC. This figure represents an increase from the 2.87 million BTC recorded in December 2025.
According to the CryptoQuant report, Bitcoin accumulation accelerated its pace starting in June 2026, coinciding with the price drop below the $60,000 threshold.
The behavior extends similarly to the altcoin market. Wallets holding between 10,000 and 100,000 ETH reached a record 19.6 million Ether. Likewise, addresses holding more than 100,000 ETH added approximately 1.8 million tokens since mid-2025.
For its part, the average order size in the XRP spot market remained within the range corresponding to large whales while the asset traded between $1.00 and $1.20. The neutral reading of the 90-day taker cumulative volume delta indicator suggests that the process responds to a passive absorption of volume rather than aggressive market buying.
On-Chain Indicators and Realized Price Metrics
Realized price, a metric that estimates the average acquisition cost on the blockchain, serves as a key indicator for evaluating the market bottom. During the first days of August, Bitcoin traded at $63,935, remaining above its realized price of $52,900.
In contrast, Ether was positioned at $1,858, trading below its estimated realized price of $2,450. In the case of XRP, the asset recorded a value of approximately $1.10 against a realized price of $0.75.
According to CryptoQuant, the increase in whale balances during periods of price contraction constitutes a historical signal linked to the formation of market bottoms. However, the analytics firm warned that the current context still displays vulnerability to potential further downside corrections.
CryptoQuant’s observations align with analyses from other research firms in the sector. Recent reports from 10x Research suggest that Bitcoin could confirm the transition out of the bear market if it achieves a sustained monthly close above $63,000. Along the same lines, a report published by K33 on July 7 indicated that cycle lows are usually reached a few weeks after more than half of the circulating supply is in loss territory.
Tracking the monthly closes of August 2026 will determine whether supply absorption by these players establishes a definitive support in valuations.