A notable crypto market analyst has highlighted significant whale activity involving four major cryptocurrencies during this week’s market slump.
The tokens in focus are Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP, all of which saw substantial accumulation by large investors.
Crypto strategist Ali Martinez shared that Cardano whales have been particularly active, amassing over 80 million ADA in just the last two days.
For Dogecoin, Martinez reported that investors holding between 10 million and 100 million DOGE seized the opportunity during the recent correction, purchasing 210 million DOGE.
Regarding Bitcoin, Martinez noted that high-net-worth investors are viewing every price drop as a buying opportunity. Over 340 new wallets holding at least 100 BTC were created as the flagship cryptocurrency’s price fell from $104,000 to $90,000.
Finally, XRP also attracted substantial interest during the dip. Wallets containing between 1 million and 10 million XRP accumulated over 100 million tokens during the correction, according to Martinez.
CryptoQuant CEO Ki Young Ju has warned that Bitcoin’s current market cycle may have already peaked, suggesting that traders shouldn’t anticipate a major rally in the next six to twelve months.
U.S. spot bitcoin ETFs experienced a surge in demand on Monday, recording $274.6 million in net inflows—their highest since early February.
A widely followed crypto analyst suggests that Bitcoin and altcoins are on the verge of a major breakout, leaving hesitant investors behind.
Bitcoin’s recent price swings indicate a lack of strong institutional participation, keeping the market in a consolidation phase.