Аналитики CryptoQuant: Активность биткоин-дельфинов как ключевой фактор роста рынка Translation: CryptoQuant Analysts: Bitcoin Dolphin Activity as a Key Factor for Market Growth

The significant concentration of the original cryptocurrency in the wallets of «whales» (holding between 100 and 1000 BTC) positions their actions as a pivotal element influencing market direction during the late stages of a bullish phase, according to analysts from CryptoQuant.

Experts have observed that such addresses control a substantial portion of the digital gold’s supply—approximately 26% (5.16 million BTC).

«Historically, an increase in accumulation within this segment has coincided with bullish impulses, while slowdowns often precede distribution phases and corrections. In 2025, ‘whales’ augmented their holdings by 681,000 BTC, whereas other groups reduced theirs, underscoring the dominance of institutional players,» the analysts stated.

They also noted the weakening of short-term price momentum for Bitcoin while long-term demand remains intact:

«The growth cycle shows signs of maturation rather than conclusion.»

CryptoQuant categorizes «whales» as including ETFs, corporate entities, and other large holders. Analysts are convinced that the actions of this group will be decisive in the coming weeks: if accumulation rates accelerate, Bitcoin could reach new highs; if not, a deeper correction could ensue.

Experts highlighted that the accumulation rates of digital gold remain positive, with an annual increase of 907,000 BTC compared to a 365-day average of 730,000 BTC. This suggests that the bullish phase has not yet concluded.

In such circumstances, the weakening of short-term momentum typically indicates an impending phase of consolidation or a moderate correction within the ongoing trend.

«For Bitcoin to return to $126,000, buying activity must resume,» the analysts emphasized. «To achieve new historical highs, the accumulation rate on a monthly basis must accelerate again.»

In the short term, the market is in a corrective phase. Resistance levels are positioned around $115,000, with support near $100,000.

«A breach of the $100,000 level could trigger a deeper decline down to $75,000,» CryptoQuant warned.

Meanwhile, analysts at Glassnode noted a «concentration of selling» in the $109,000 to $115,000 range based on options data.

The current situation in the derivatives market «indicates that recent gains are being used for hedging.»

«Traders are taking defensive positions amid market consolidation,» researchers explained.

It is worth recalling that analyst Axel Adler issued a warning about Bitcoin entering the late phase of the cycle.