Bitcoin in the accumulation phase at the end of the cycle: CryptoQuant

2025-10-24 03:23:59

Abstract generation in progress

CryptoQuant's on-chain data (23/10) shows that the bullish cycle of Bitcoin is entering its final phase, but it has not yet ended. The “Dolphin” group — consisting of ETFs, institutions, and whales holding 100-1,000 BTC — currently controls 26% of the supply ( of about 5.16 million BTC) and plays a key role in the price action.

Since the beginning of 2025, this group has purchased an additional 681,000 BTC while other groups have sold, reinforcing the organization's leading position. The annual growth rate of holdings reached 907,000 BTC, higher than the 365-day average of 730,000 BTC, indicating that the bullish cycle has not yet ended.

However, the short-term accumulation momentum is weakening. If there is no strong buying again, Bitcoin could correct further, with resistance at 115,000 USD and support around 100,000 USD. Losing this level may trigger a drop to 75,000 USD.

BTC-1.09%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.