### Bitcoin Dolphins: Driving the Market Forward
The world of cryptocurrency is ever-evolving, and insights from experts often unveil patterns that could set the stage for future market movements. Recently, analysts from CryptoQuant have highlighted a fascinating trend regarding “Bitcoin dolphins” – addresses holding between 100 to 1,000 BTC – and their influence on market dynamics, particularly during the later stages of a bull market.
#### Who are the Dolphins?
According to CryptoQuant, these dolphins collectively control a significant portion of Bitcoin’s supply, amounting to approximately 26%, or 5.16 million BTC. Their trading behavior could potentially predict market shifts, making them pivotal in shaping Bitcoin’s price trajectory.
### Accumulation Patterns and Market Behavior
The historical data indicates a strong correlation between the accumulation of Bitcoin by these dolphins and the price movements of the digital asset. As the analysts pointed out:
> “Historically, accumulation growth in this segment coincided with bullish impulses, while a slowdown often preceded distribution phases and corrections.”
In 2025 alone, dolphins increased their holdings by an impressive 681,000 BTC, while other stakeholders reduced theirs. This behavior underscores the growing dominance of institutional players in the Bitcoin market.
_**Dynamics of digital gold accumulation by ‘bitcoin dolphins’. Source: [CryptoQuant](https://cryptoquant.com/insights/research/68fa48e069a00919b9cffad7-23-October-2025-Late-Stage-Accumulation-What-On-Chain-Data-Reveals-About-Bitcoin?utm_source=telegram&utm_medium=sns&utm_campaign=research&utm_content=crypto-weekly-report)**_
### Current Market Sentiment
While there’s a noticeable weakening in Bitcoin’s short-term price momentum, long-term demand appears resilient. Analysts noted:
> “The growth cycle shows signs of maturity, not completion.”
CryptoQuant classifies the dolphins as entities including ETFs and corporate holders. In the forthcoming weeks, the actions of these players will be crucial. If the accumulation trend picks up speed, Bitcoin could soar to new heights. Conversely, a continuation of the current pace could signal a deeper market correction.
### The Bull Phase Is Not Over Yet
Despite recent fluctuations, the pace of Bitcoin accumulation remains positive. Recent data shows an annual increase of 907,000 BTC—outpacing the 365-day average of 730,000 BTC. This trend suggests that a bullish phase is still underway. However, a softened short-term momentum might indicate an approaching consolidation or moderate correction within the current trend.
> “To return to $126,000, purchases need to resume,” analysts assert. “To reach new historical highs, the pace of accumulation on a monthly horizon must accelerate again.”
At present, the market is navigating a correction phase, with resistance identified around $115,000 and support near $100,000. A breach of the $100,000 mark could potentially lead to a decline down to $75,000.
### Sales Concentration and Defensive Strategies
Glassnode analysts have also observed a “concentration of sales” in the $109,000 to $115,000 range based on options data. The current state of the derivatives market suggests that recent price increases are being utilized for hedging purposes.
> “Traders are taking defensive positions amid market consolidation,” researchers explained.
Earlier warnings from analysts like Axel Adler Jr. highlight Bitcoin’s potential transition into the late cycle phase, urging traders to stay vigilant as market conditions evolve.
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