🐋 What is known now — whales are indeed accumulating

• According to recent data from on-chain analytics, "whales and sharks" (wallets with tens to thousands of BTC) have added about 47,584 BTC during December 2025, following a period of selling. 

• This change represents a shift — from mass selling in October/November to accumulation again — indicating a return of conviction from large holders. 

• In parallel, there are reports of significant whale activity also in ETH: some "whales" have opened significant long positions in ETH — with a collective exposure of hundreds of millions of dollars, suggesting that these big players are "betting big" on an upcoming rise. 

📈 What does this mean? — Likely market interpretation

• That whales consider this moment attractive for accumulation, which could indicate that they perceive current prices as an "entry value" or that they expect a bullish cycle in the medium to long term.

• That they are absorbing supply (fewer coins available in the hands of "retail"), which historically can create a more solid support base for BTC/ETH.

• That their confidence (or at least their bet) is directed towards the idea that the coming months could bring a rise, especially if macroeconomic factors (rates, liquidity, global sentiment) seem favorable to them.

⚠️ With nuances — not everything is guaranteed

• That whales buying does not guarantee automatic rise: the market can remain very volatile, and other macro factors (macro-macro: rates, inflation, regulation) can pull the price.

• Accumulation indicates intention and conviction, but does not reveal the "timing": they may sell later if the context changes.

• That some ETH whales are very long does not mean that all are; there is rotation among projects, and not all always move in unison.

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