Institutional BTC Sales High for Three Weeks: Price Drop?

Companies holding corporate Bitcoin (BTC) treasuries have sold for three consecutive weeks according to Capriole Investments' Bitcoin Treasuries indicator. Data shared by Coin Bureau shows the net sales of public companies holding BTC, marking the first three-week selling streak in their short history. Coin Bureau chief market analyst Nic Puckrin stated that the ongoing sales could push BTC prices toward bear market bottom levels.

BTC/USD, Bitcoin treasuries buy/sell indicator. Source: Capriole Investments/Coin Bureau

Corporate BTC Sales Continue for Three Consecutive Weeks

The top 20 BTC holders did not report sales, but smaller companies reduced their positions. Chinese Cango Inc. cut its BTC holdings by 54% in the last two weeks from 8.095 BTC to 3.644 BTC (approximately 246 million dollars). US-based Exodus Movement went from 1.704 BTC to 1.694 BTC, Singapore's Genius Group from 180 BTC to 84 BTC. Bitcoin miner Bitdeer completely sold its 943 BTC.

Cango Inc. Bitcoin holdings, 1-month chart. Source: Bitcointreasuries

Bitdeer Completely Zeroed Out Its BTC Holdings

As of February 20, Bitdeer went from approximately 2,000 BTC at year-end to zero holdings in eight weeks. This selling wave is explained by mining companies' liquidity needs or market uncertainty. Click for detailed BTC analysis.

Spot Bitcoin ETF Outflows Show No Signs of Slowing

The 12 spot Bitcoin ETFs in the US experienced net outflows on February 20 during a trading week shortened to four days due to Presidents' Day holiday. The total 2.6 billion dollar outflow over five weeks is suppressing demand. Macro uncertainties and US President Trump raising global tariffs from 10% to 15% have increased market tension.

BTC Technical Analysis: Strong Supports Nearby

Current BTC price 66.203,71 USD (-2.59% 24h). RSI 34.13 (oversold signal), downtrend and bearish Supertrend dominant. EMA 20: 70.256 USD. Supports: S1 64.072 USD (strong, -3.31%), S2 65.632 USD (-0.95%). Resistances: R1 67.640 USD (+2.08%), R2 69.434 USD (+4.78%). Details on BTC futures here. Investors should follow the BTC spot analysis.

• Positive: RSI low, dip buyers may enter.
• Risk: ETF and corporate sales could increase pressure.