Large Bitcoin addresses (whales) now hold approximately 3.06 million BTC, up from a low of 2.87 million recorded in December 2025, representing net accumulation of nearly 190,000 BTC over eight months. This accumulation accelerated after Bitcoin fell below the $60,000 threshold in June 2026. CryptoQuant head of research Julio Moreno characterized the current positioning as reflecting the final phase of the cycle’s decline. Bitcoin is currently trading between $64,640 and $64,760, approximately 22% above its realized price of $52,900. This accumulation pattern is also observed in Ether and XRP.
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