{"id":90240,"date":"2025-10-24T11:45:22","date_gmt":"2025-10-24T08:45:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90240"},"modified":"2025-10-24T11:51:22","modified_gmt":"2025-10-24T08:51:22","slug":"cryptoquant-identifies-bitcoin-dolphins-as-new-market-growth-drivers","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cryptoquant-identifies-bitcoin-dolphins-as-new-market-growth-drivers\/","title":{"rendered":"CryptoQuant Identifies &#8216;Bitcoin Dolphins&#8217; as New Market Growth Drivers"},"content":{"rendered":"<p>The high concentration of the leading cryptocurrency in the hands of &#8216;dolphins&#8217; (100-1000 BTC) makes their activity a key factor in determining market direction during the late stage of a bull phase, according to CryptoQuant analysts.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"cryptoquant_official\/3276\" data-width=\"100%\"><\/script><\/p>\n<p>Experts observe that such addresses control the largest share of digital gold supply \u2014 about 26% (5.16 million BTC).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Historically, accumulation growth in this segment coincided with bullish impulses, while a slowdown often preceded distribution phases and corrections. In 2025, &#8216;dolphins&#8217; increased their holdings by 681,000 BTC, while other groups reduced theirs \u2014 this confirms the dominance of institutional players,&#8221; the analysts wrote.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-6af9c5ab025d54b8-7687777008985345-1024x586.jpg\" alt=\"2025-10-24 10.57.49\" class=\"wp-image-268145\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-6af9c5ab025d54b8-7687777008985345-1024x586.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-6af9c5ab025d54b8-7687777008985345-300x172.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-6af9c5ab025d54b8-7687777008985345-768x440.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-6af9c5ab025d54b8-7687777008985345.jpg 1076w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of digital gold accumulation by &#8216;bitcoin dolphins&#8217;. Source: <a href=\"https:\/\/cryptoquant.com\/insights\/research\/68fa48e069a00919b9cffad7-23-October-2025-Late-Stage-Accumulation-What-On-Chain-Data-Reveals-About-Bitcoin?utm_source=telegram&#038;utm_medium=sns&#038;utm_campaign=research&#038;utm_content=crypto-weekly-report\">CryptoQuant<\/a>.<br \/><\/figcaption><\/figure>\n<p>They also noted a weakening of bitcoin&#8217;s short-term price momentum while long-term demand remains:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The growth cycle shows signs of maturity, not completion.&#8221;<\/p>\n<\/blockquote>\n<p>CryptoQuant primarily considers <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETFs<\/a>, corporations, and other large holders as &#8216;dolphins&#8217;. Analysts are convinced that in the coming weeks, the activity of this group will be decisive: if the pace of accumulation accelerates, bitcoin could reach new highs; if not, the correction will deepen.<\/p>\n<h2 class=\"wp-block-heading\">The Bull Phase Is Not Over<\/h2>\n<p>Experts noted that the pace of digital gold accumulation remains positive \u2014 with an annual increase of 907,000 BTC compared to a 365-day average of 730,000 BTC. This indicates that the bull phase is not yet over.\u00a0<\/p>\n<p>In such conditions, a weakening of short-term momentum usually points to an upcoming phase of consolidation or moderate correction within the current trend.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;To return to $126,000, purchases need to resume,&#8221; the analysts emphasized. &#8220;To reach new historical highs, the pace of accumulation on a monthly horizon must accelerate again.&#8221;<\/p>\n<\/blockquote>\n<p>In the short term, the market remains in a correction phase. Resistance is at $115,000, with support around $100,000.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;A breach of the $100,000 level could trigger a deeper decline down to $75,000,&#8221; CryptoQuant warned.<\/p>\n<\/blockquote>\n<p>Meanwhile, Glassnode analysts, based on options data, noted a &#8220;concentration of sales&#8221; in the $109,000-115,000 range.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e6a119dadd0695e3-7687888945855370-1024x576.jpg\" alt=\"Glassnode\" class=\"wp-image-268146\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e6a119dadd0695e3-7687888945855370-1024x576.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-e6a119dadd0695e3-7687888945855370-300x169.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-e6a119dadd0695e3-7687888945855370-768x432.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-e6a119dadd0695e3-7687888945855370.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">&#8220;Heatmap&#8221; of bitcoin options premiums. Source: <a href=\"https:\/\/t.me\/glassnode\/1353\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>The current situation in this derivatives market &#8220;indicates the use of recent growth for hedging&#8221;.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Traders are taking defensive positions amid market consolidation,&#8221; the researchers explained.<\/p>\n<\/blockquote>\n<p>Earlier, analyst Axel Adler Jr. <a href=\"https:\/\/forklog.com\/en\/news\/analyst-warns-of-bitcoin-market-entering-late-cycle-phase\">warned<\/a> of bitcoin&#8217;s transition into the late phase of the cycle.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The high concentration of the leading cryptocurrency in the hands of &#8216;dolphins&#8217; (100-1000 BTC) makes their activity a key factor in determining market direction during the late stage of a bull phase, according to CryptoQuant analysts. Experts observe that such addresses control the largest share of digital gold supply \u2014 about 26% (5.16 million BTC). &#8220;Historically, accumulation growth in this segment coincided with bullish impulses, while a slowdown often preceded distribution phases and corrections. In 2025, &#8216;dolphins&#8217; increased their holdings by 681,000 BTC, while other groups reduced theirs \u2014 this confirms the dominance of institutional players,&#8221; the analysts wrote.<\/p>\n","protected":false},"author":1,"featured_media":90241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"CryptoQuant sees 'bitcoin dolphins' as key market drivers, holding 26% of supply.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1205,1273,1268],"class_list":["post-90240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptoquant","tag-glassnode","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"157","promo_type":"1","layout_type":"1","short_excerpt":"CryptoQuant sees 'bitcoin dolphins' as key market drivers, holding 26% of supply.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90240"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90240\/revisions"}],"predecessor-version":[{"id":90242,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90240\/revisions\/90242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90241"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}