Crypto Whales Increase Holdings as Bear Market Nears End, CryptoQuant Reports
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Written by
Simonas Brazionis - Updated 2026-08-06 00:12:07
Large cryptocurrency holders are increasing their Bitcoin (BTC) and Ether (ETH) holdings. This indicates that valuations are nearing levels typically associated with the final phase of a bear market, according to blockchain analytics firm CryptoQuant.
CryptoQuant's latest Smart Money report indicates that an increase in whale balances during periods of price weakness can lead to a reduction in available supply. It also leads to a concentration of ownership among larger holders.
Whale Accumulation Trends
Bitcoin whale holdings, excluding exchange and mining pool addresses, have risen to approximately 3.06 million BTC from 2.87 million BTC in December 2025. This accumulation accelerated after Bitcoin's price fell below $60,000 in June.
Ethereum wallets holding between 10,000 and 100,000 ETH collectively reached a record 19.6 million ETH. Wallets with over 100,000 ETH added about 1.8 million ETH since mid-2025.
In the XRP market, average spot order sizes remained within CryptoQuant’s “big whale” classification, with the token trading between $1 and $1.20. However, a neutral 90-day taker cumulative volume delta suggested passive absorption rather than aggressive purchasing.
Realized Price and Market Bottom Indicators
CryptoQuant also cited realized price, an estimation of the market's average on-chain cost basis, as an indicator that the market might be approaching a bottom. Bitcoin was trading at $63,935, above its realized price of $52,900.
Ether traded at $1,858, below its realized price of approximately $2,450. XRP was trading at about $1.10, compared to a realized price of about $0.75.
CryptoQuant stated that rising whale balances during price weakness are a clear indicator of smart money activity. This accumulation pattern has historically preceded market bottoms, though the market remains susceptible to further declines.
Other researchers have also identified potential bottoming indicators. 10x Research indicated that Bitcoin could confirm a bear-market bottom with a monthly close above $63,000. K33 reported on July 7 that Bitcoin has historically reached cycle lows within weeks after more than half of its circulating supply was held at a loss.
