Large holders of Bitcoin (BTC), Ethereum (ETH), and XRP are boosting their positions despite prices remaining under pressure, according to CryptoQuant. The firm suggests this signals the bear market may be nearing its end but warns it has not confirmed a bottom.
Julio Moreno, head of research at CryptoQuant, stated: “Across bitcoin, ether and XRP, the largest cohorts are adding supply as prices sit near or below their realized prices… This positioning lowers downside pressure and is consistent with the final phase of the cycle’s decline.”
CryptoQuant’s analysis highlights increasing balances for major crypto players. Bitcoin whale balances (excluding exchanges and mining pools) have climbed to about 3.06 million BTC after bottoming near 2.87 million BTC in December 2025. Ether wallet holdings between 10,000 and 100,000 ETH increased to a record of 19.6 million ETH from around 14 million ETH in mid-2025. XRP “mega whales” added about 1.8 million ETH since mid-2025, bringing their balance up to around 4.6 million ETH and remaining near record levels.
While the firm’s findings indicate a potential shift towards market recovery, CryptoQuant cautions that it has not confirmed a bottom for prices. The exact timing and strength of any potential recovery remain uncertain.
Written by Sarah Whitmore
Ethereum Desk
