Bitcoin whale holdings (excluding exchanges and mining pools) have climbed to roughly 3.06M BTC in 2026, still below the 2025 cycle peak of 3.23M, with whales buying aggressively when price dipped under $60,000 in June.
Ethereum mega-whales (100k+ coin wallets) added about 1.8M ETH since mid-2025 — a roughly 70% increase — while the smaller 1k-10k cohort shed about 2.7M ETH since January.
Bitcoin (~$64,000) and XRP (~$1.10) trade near their realized prices of $52,900 and ~$0.75 respectively, while Ether (~$1,900) sits below its realized price of ~$2,450 — a zone CryptoQuant calls historically ‘late-bear-market’.
While retail sentiment toward crypto has stayed cautious, the biggest wallets appear to be doing the opposite of panic-selling. A new CryptoQuant report, titled ‘Buying the Bear: A Signal of the Bear Market’s Final Stage’, tracks large-holder behavior across Bitcoin, Ethereum and XRP and finds accumulation patterns the firm associates with the closing phase of prior downturns. These are CryptoQuant’s data-driven observations of on-chain wallet activity, not price predictions or guarantees — the firm itself flags that further downside remains possible before any floor is confirmed.
Whales Buy the Dip While Smaller Holders Retreat
The divergence between large and small holders is the standout detail. Bitcoin whale balances have risen through 2026 to about 3.06M BTC, adding aggressively during June’s dip below $60,000. XRP whales are described as ‘quietly positioning’ — spot order sizes remain in ‘big whale’ territory as price holds a $1.00-$1.20 range, even though 90-day taker volume looks neutral, suggesting accumulation by absorption rather than aggressive buying. On Ethereum, the 10k-100k ETH cohort has climbed to a record high near 19.6M ETH, and mega-whales (100k+) have added roughly 1.8M ETH since mid-2025, even as smaller 1k-10k wallets have distributed about 2.7M ETH since January — a split between conviction buyers and exiting smaller players.
What This Means for Your Portfolio and Wallet
For everyday crypto holders, the read is nuanced: current prices for BTC and XRP sitting near their realized-price levels have historically marked value zones late in past bear cycles, per CryptoQuant, but that is a pattern observation, not a floor guarantee. Ether’s discount to its realized price is even steeper, which could appeal to value-focused investors willing to tolerate more downside risk.
Strategic Positioning & Defense Ideas
Standard risk-management tools apply here — dollar-cost averaging rather than lump-sum entries, position sizing that reflects crypto’s volatility, and keeping a diversified portfolio that isn’t overly concentrated in any single token. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
What to Watch Next
Track whether whale accumulation continues as prices hover near realized-price bands, and watch for any confirmed reversal in on-chain flows. Full details are available via The Daily Hodl and CryptoQuant’s original report.
