NewsMeter
Large holders of bitcoin ($BTC), ether ($ETH) and XRP are adding to positions while prices stay under pressure, on-chain analytics firm CryptoQuant reported.
The firm characterizes the behavior as a late-stage bear market signal. What the accumulation signal means Whale accumulation during a price drawdown is a supply-absorption event.
The largest wallets are buying while prices decline, which means sell pressure is being cleared by holders with the capacity to absorb it.
CryptoQuant's late-stage bear market framing carries a specific implication: large holders are building positions at current levels. CryptoQuant identified the stage. The firm stopped short of calling a bottom.
Keep reading