Analyst: Firms that bought BTC near highs now face pressure to sell low

The market capitalization of Bitcoin-accumulating companies has dropped by over $100 billion since last October, and these firms largely bought near market highs, according to crypto analyst Darkfost on X. He explained that while the value of their crypto holdings fell from $396 billion to $272 billion, their BTC holdings increased from 953,000 to 1.14 million during the same period. However, as Bitcoin's price has declined since May, the pace of their accumulation has slowed sharply. Darkfost noted that the most active accumulation period for these companies was between November 2014 and October 2015, when BTC was trading in the $75,000 to $125,000 range, during which their holdings more than tripled. "Since these companies bought at the highs, whether they will sell at the lows, like Strategy (MSTR), is now a key point of interest for the market," he added.