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XRP Bitcoin, Ethereum and Ripple Giant Whales continue to increase their holdings during periods of market weakness
According to data analysis firm CryptoQuant, during the recent market weakness, large holders of Bitcoin, Ethereum and Ripple are still continuing to increase their holdings. The agency analyzed the recent increase in holdings in the largest wallet in its weekly report "Buy a Bear Market: Signals for the Final Phase of a Bear Market", pointing out that this steady buying reflects common market characteristics at the end of a bear market.
Giant Whale increased its holdings in Bitcoin, Ethereum and Ripple
For Bitcoin, excluding exchanges and miners, the total balance of the main holder's associated wallets has increased to approximately 3.06 million BTC this year. Buying has accelerated since Bitcoin fell below $60,000 in June, although open positions are still below the peak of the 2025 cycle.
In terms of Ethereum, the trend of increasing its holdings by its largest holder group is more obvious. Wallet balances holding 10,000 to 100,000 ETH reached a record 19.6 million ETH. Since mid-2025, addresses holding more than 100,000 ETH have increased their holdings by approximately 1.8 million ETH, an increase of approximately 70%.
This trend of increased holdings contrasts with the activity of small Ethereum holders. CryptoQuant pointed out that since January, the total balance of wallets in non-largest groups has dropped by approximately 2.7 million ETH, indicating a growing division between large and small holders. Similar changes have occurred in Ripple, with large holders continuing to increase their positions despite market panic and liquidations.
Realized price suggests late bear market characteristics
Recent increases in holdings occur at a time when all three assets are close to key realized price levels. Realized prices are widely used to assess market cycles because they estimate the holder's average buying cost. Bitcoin is currently trading at approximately US$65,000, and the realized price is approximately US$52,900; Ethereum is trading at approximately US$1,920, and the realized price is approximately US$2,450; Ripple is trading at approximately US$1.04, and the realized price is approximately US$0.75. The agency said these levels were consistent with conditions at the end of the bear market.
According to CryptoQuant, the combination of giant whale holdings and prices close to realized value is consistent with the final stage of a bear market. The agency added that further declines could still occur before the market bottom was confirmed.
