Corporate Bitcoin Holders Experience Unprecedented Three-Week Sales Pattern With BTC Around $66K
Persistent disposal of holdings by corporate treasuries and US-based Bitcoin ETFs poses risk of deeper BTC correction, though market experts interpret this as beneficial elimination of excessive speculative leverage.
Companies holding Bitcoin as part of their corporate treasury strategy have recorded an unusual three consecutive weeks of net selling activity, representing a pattern that market observers suggest could amplify Bitcoin's current price correction should new buying interest fail to materialize.
Public companies that maintain Bitcoin (BTC) reserves on their corporate balance sheets have demonstrated three weeks in a row of net selling behavior, based on data from Capriole Investments' Bitcoin Treasuries buy and sell indicator, which was highlighted by the educational resource Coin Bureau. The measurement tool monitors the aggregate purchasing and selling activity among publicly-traded entities maintaining Bitcoin holdings.
The pattern represents an unprecedented three-week consecutive selling period since corporate Bitcoin treasury holdings became a phenomenon. Ongoing disposal of BTC by corporate entities poses a risk of driving Bitcoin's valuation toward a fresh "bear market low," according to Nic Puckrin, who serves as co-founder and lead market analyst at Coin Bureau.
"As contagion increases, we could see further corporate selling in the weeks to come, pushing the price of Bitcoin toward its bear market low," Puckrin told Cointelegraph. He added that the segment could also see consolidation if weaker firms struggle to maintain their treasury strategies.
Nonetheless, Puckrin indicated that a more substantial price decline might ultimately serve a constructive purpose over the longer term through eliminating leveraged positions and speculative participants, thereby facilitating a reset of overall market structure.
Mid-tier treasury holders reduce positions while largest entities maintain holdings
The leading 20 corporate Bitcoin holders by total holdings have not disclosed any recent disposal activity, though several smaller-scale companies have been decreasing their BTC positions, including Cango Inc., Exodus Movement and Genius Group, based on information compiled by Bitcoin Treasuries.
China-based publicly-traded company Cango, the 27th largest holder, reduced its Bitcoin holdings by over 54% over the past two weeks, from 8,095 BTC on Feb. 8 to 3,644 BTC worth $246 million as of Monday.
US-based digital asset management and custody company Exodus Movement, the 41st-largest public holder, reduced its corporate holdings from 1,704 on Feb. 11 to 1,694 BTC, worth $114 million on Monday.
Singapore-based artificial intelligence and Bitcoin education company Genius Group also reduced its holdings from 180 BTC on Feb. 5 to 84 BTC worth $5.6 million as of Monday.
Bitcoin mining company Bitdeer also sold all its corporate Bitcoin holdings of 943 BTC, reducing its treasury balance to zero, Cointelegraph reported on Sunday.
Tariff policy volatility and ETF withdrawals pressure buying momentum
Market experts have also highlighted macroeconomic uncertainty and diminished fund inflows as obstacles to any immediate price recovery. US President Donald Trump announced Saturday that he was raising the global tariff rate from 10% to 15% effective immediately, following the Supreme Court's Friday decision to strike down his authority to levy tariffs under the International Emergency Economic Powers Act (IEEPA).
Trade policy concerns and tariff headlines have increased uncertainty for global markets, which can push investors into a short-term "risk-off" posture, said Linh Tran, a senior market analyst at brokerage XS.com.
"For Bitcoin, a policy uncertainty environment often triggers a short-term risk-off state, as investors prioritize cash and bonds over high-volatility assets."
Tran said the pressure is being reinforced by soft demand indicators, including continued outflows from US spot Bitcoin exchange-traded funds (ETFs).
Spot Bitcoin ETFs have posted five consecutive weeks of net outflows and are down about $2.6 billion so far in 2026, according to Farside Investors.