Bitcoin whale and dolphin accumulation stalls, CryptoQuant warns of weakening demand

CryptoQuant says bitcoin whale and dolphin accumulation stalled as demand remains weak

CryptoQuant reports that bitcoin whale balances are contracting year-over-year at the fastest pace of 2026 while dolphin monthly growth approaches zero, mirroring the 2022 bear phase setup. For treasury and portfolio managers, the data signals structural demand erosion — long-term holder supply at 15.8M BTC reflects stagnant turnover, not accumulation, reducing the case for near-term BTC allocation or DCA strategies.