BlockBeats News, July 11th - Analyst Darkfost pointed out that since October 2025, the total market value of the global Bitcoin treasury companies has shrunk from $396 billion to $272 billion, evaporating over $100 billion. During the same period, the total amount of Bitcoin held by these companies increased from 953,000 to 1.14 million, while the decrease in market value was driven entirely by the price drop, not by selling. However, it is worth noting that since Bitcoin entered a significantly undervalued range in May of this year, the pace of accumulation has sharply slowed down, almost stagnating. The most intensive buying period for these companies was concentrated between November 2024 and October 2025, with the holdings tripling in less than a year, with the purchase price range between $75,000 and $125,000—precisely in the region of Bitcoin's historical highs.

The current question is: since these companies have accumulated heavily in the top range, will they sell at the bottom? Strategy has recently taken the lead in selling Bitcoin; will this behavior be imitated by other treasury companies, becoming a new source of selling pressure in the market? With the current total holding of 1.14 million coins, if more companies are forced to reduce their positions in the bearish market to alleviate financial pressure, it could pose additional downside risk to the Bitcoin price.