Corporate Bitcoin treasury companies have posted a rare three-week selling streak, a shift analysts say could deepen Bitcoin’s pullback if fresh demand does not emerge.
Bitcoin (BTC) treasury companies logged three consecutive weeks of selling, according to Capriole Investments’ Bitcoin Treasuries buy and sell indicator shared by educational platform Coin Bureau. The metric tracks net buying and selling by public companies that hold Bitcoin on their balance sheets.
This marks the first three-week selling streak in the short history of BTC treasury companies. Continued corporate selling threatens to push Bitcoin’s price towards a new ”bear market low,” said Nic Puckrin, 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.
However, Puckrin said a deeper drawdown could still prove constructive in the long run by clearing out leveraged positioning and speculative holders, helping reset market structure.
Related: Tether USDT supply set for biggest monthly decline since 2022 FTX collapse
Smaller treasuries trim holdings as top holders hold steady
The top 20 largest corporate Bitcoin holders have not reported recent sales, but some smaller companies have been reducing their BTC holdings, including Cango Inc., Exodus Movement and Genius Group, according to data from 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.
Related: Wells Fargo sees ‘YOLO’ trade driving $150B into Bitcoin and risk assets
Trade uncertainty and ETF outflows weigh on demand
Analysts also pointed to macro uncertainty and weak fund flows as headwinds for a near-term 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.
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder
