Data: Bitcoin Treasury Company’s market capitalization has evaporated by more than $1 trillion, and its holdings have increased to 1.14 million BTC.

BlockBeats, July 11: Analyst Darkfost pointed out that since October 2025, the total market value of holdings by global Bitcoin treasury companies has fallen from $396 billion to $272 billion, evaporating more than $953k. Meanwhile, the total amount of BTC held by these companies increased from 953k coins to 1.14 million coins over the same period—so the market value decline was driven entirely by a drop in the BTC price, not by selling off. However, it’s worth noting that since this year’s May, after Bitcoin entered a significantly undervalued range, the pace of accumulation has slowed sharply, nearly coming to a standstill. The most concentrated buying period for these companies was between November 2024 and October 2025, when their holdings tripled in less than a year, with purchase prices ranging roughly from $75,000 to $125,000—right within Bitcoin’s historical high-price zone.

The key question now is: since these companies built large positions in the top region, will they sell at lower levels? Strategy has recently been the first to start selling BTC—will this be followed by other treasury companies, turning into a new source of sell pressure for the market. Based on the current total holdings of 1.14 million BTC, if more companies are forced to cut positions in a sluggish market to ease financial pressure, it could pose additional downside risk to Bitcoin’s price.