The cryptocurrency market has faced a persistent downfall, resulting in deeper losses for major digital assets including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Amid this downward trend, large investors have shown diverging behaviors across different tokens.
According to analyst Ali Martinez, large Bitcoin investors sold over 34,000 coins over a seven-day period as prices fell from nearly $80,000 to a local bottom below $73,000. This sold stash is valued at approximately $2.6 billion. Following these transactions, this cohort now holds a little more than 5.24 million units, which accounts for 26% of Bitcoin's circulating supply. At the time of writing, Bitcoin trades around $74,000, marking a 12% decline on a monthly basis.
Ethereum whales have similarly reduced their exposure, though at a slower pace. Over the same seven-day window, large Ethereum investors parted with about 17,800 units worth roughly $40 million. Ethereum recently neared the psychological $2,000 level before recovering slightly to trade around $2,060, a threshold analysts view as a crucial support barrier.
In contrast to the activity observed in BTC and ETH, XRP whales increased their positions. Over a four-day period, large XRP investors acquired roughly 65.32 million units, valued at close to $72 million. This accumulation brought the group's total holdings back above 4 billion tokens.
Despite the accumulation by XRP whales, broader market indicators continue to present challenges. Spot XRP ETFs recorded notable outflows over recent trading sessions, and the wider market experiences ongoing weakness and waning institutional interest.
