#InstitutionalCapitalRotatesFromBTCToHYPEAndXRP

Similar to Phase 2022, This Research Indicates Whale Bitcoin Accumulation Is Starting to Weaken

The latest report from the on-chain analytics firm CryptoQuant shows that the trend of Bitcoin accumulation by whale and dolphin groups is beginning to stall. The decline in whale group balances, occurring at the fastest rate this year, is seen as reflecting the early bear market phase pattern in 2022, which also confirms a structural slowdown in new demand in the crypto market.
​CryptoQuant Head of Research, Julio Moreno, explained that the supply held by long-term holders currently records a peak of 15.8 million Bitcoin, but this cannot be interpreted as a bullish accumulation signal. This increase in supply occurs because BTC is not changing hands on a large scale, indicating that short-term demand is too weak to absorb assets from long-term holders. In other words, investors are just holding onto their assets without a strong new buyer push in the market.
​On the other hand, the supply of short-term holders has reportedly plummeted drastically from 6.4 million Bitcoin in December 2025 to around 4.2 million Bitcoin currently. This decline is partly caused by the transfer of Coinbase exchange reserves past the 155-day threshold, thus mechanically inflating the long-term supply figure without reflecting real new demand. When this report was released on Thursday (28/5), Bitcoin was trading around $73,400, down from its peak level above $126,000 in October.