Large crypto holders are increasing their bitcoin (BTC), ether (ETH), and XRP (XRP) positions as prices remain under pressure, according to CryptoQuant, suggesting they may be preparing for the next market cycle.
CryptoQuant said the activity signals that the bear market is likely in its final stage.
However, the firm said the market has not reached a confirmed bottom, and prices may still fall further.
"Across bitcoin, ether and XRP, the largest cohorts are adding supply as prices sit near or below their realized prices," CryptoQuant's head of research, Julio Moreno, said in a Wednesday report.
"This positioning lowers downside pressure and is consistent with the final phase of the cycle's decline." Bitcoin whale balances, excluding exchanges and mining pools, have climbed to about 3.06 million BTC after it bottomed near 2.87 million BTC in December 2025, CryptoQuant said.
