Analysis: Short-term pressure on BTC has led to the first three-week consecutive sell-off by Bitcoin treasury companies, with ETFs experiencing net outflows for five consecutive weeks.

SmartContractAuditor · 2026-02-23T12:51:25+00:00

Companies holding Bitcoin have been reducing their holdings for three consecutive weeks, with firms like Bitdeer and Cango Inc. significantly decreasing their positions, which could lead to a decline in Bitcoin prices. Additionally, the US spot Bitcoin ETF has experienced five weeks of net outflows, totaling $2.6 billion.

SmartContractAuditor

2026-02-23 12:51:25

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Odaily Planet Daily reports that data from Capriole Investments shows that corporate treasuries holding Bitcoin have been reducing their holdings for three consecutive weeks. Nic Puckrin, co-founder of Coin Bureau, stated that if corporations continue to sell, Bitcoin’s price could drop to bear market lows. Among specific holders:

Bitdeer has sold all 943 of its Bitcoin holdings, bringing its treasury balance to zero.
Cango Inc., ranked 27th, reduced its Bitcoin holdings by over 54% in the past two weeks, from 8,095 to 3,644 coins, worth $246 million.
Exodus Movement’s Bitcoin holdings decreased from 1,704 to 1,694 coins, valued at $114 million.
AI education company Genius Group’s holdings dropped from 180 to 84 coins, worth $5.6 million.

Additionally, the US spot Bitcoin ETF has recorded net outflows for five consecutive weeks, with approximately $2.6 billion flowing out since 2026. (Cointelegraph)

BTC-2.14%

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