Crypto whales accumulate BTC, ETH, XRP as bear market nears bottom: CryptoQuant

In XRP markets, average spot order sizes remained in the firm's “big whale” category as the token traded between $1 and $1.20. The 90-day taker cumulative volume delta stayed neutral, suggesting passive absorption rather than aggressive buying, the report said.

CryptoQuant also pointed to realized price – the market's average onchain cost basis – as evidence that the market may be approaching a bottom. Bitcoin traded at $63,935 at the time of writing, above its realized price of $52,900. Ether traded at $1,858, below its realized price of about $2,450. XRP traded at roughly $1.10 compared with a realized price of about $0.75.

“Rising whale balances into price weakness is the clearest smart-money tell,” CryptoQuant said. The accumulation pattern has historically preceded market bottoms. The firm cautioned that the market remains exposed to further downside.

Other researchers have also identified potential bottoming indicators. On Monday, 10x Research said Bitcoin could confirm a bear-market bottom with a monthly close above $63,000. K33 said in a July 7 report that Bitcoin has historically reached cycle lows within weeks after more than half of its circulating supply was held at a loss.