CryptoQuant reports Bitcoin whale balances have been flat since February 2026 while dolphin accumulation trends lower since September 2025, signaling weakening demand.

Current Bitcoin whale activity is similar in nature to the last bear market in 2022 when BTC fell precipitously, according to on-chain data.

Bitcoin holding structure continues to deteriorate as whale and dolphin BTC balances have stalled, CryptoQuant said.

CryptoQuant reports Bitcoin whale balances have been flat since February 2026 while dolphin accumulation trends lower since September 2025, signaling weakening demand.

Bitcoin whale and dolphin balances are flashing bear market signals as holding structures weaken and long-term holder supply hits a record, says CryptoQuant.

Bitcoin (CRYPTO: BTC) whale accumulation is contracting at the fastest pace this year as CryptoQuant warns the setup mirrors March 2022 bear market conditions.