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BTC Analysts warn: Companies that buy Bitcoin near highs are now facing loss selling pressure.
Since October last year, the total market value of listed companies holding large amounts of Bitcoin has plummeted by more than $100 billion, raising concerns that companies that bought large quantities of the cryptocurrency when the price of Bitcoin was near its peak may now be forced to sell at low prices. According to cryptocurrency analyst Darkfost, during this period, the total value of bitcoins held by companies fell from $396 billion to $272 billion, although the total number of bitcoins held by these companies increased from 953,000 to 1.14 million.
High Opening Positions
Darkfost shared this analysis on social media. He pointed out that the most aggressive buying phase for companies occurred between November 2024 and October 2025, when Bitcoin traded in the range of $75,000 to $125,000. During this window, these companies 'Bitcoin holdings more than tripled. However, since Bitcoin prices began to fall in May this year, the pace of holdings has slowed down significantly, indicating that the timing of this buying wave may not be ideal.
"Since these companies are buying at high levels, whether they will sell at low levels like Strategy (formerly MicroStrategy) has now become the focus of the market," Darkfost wrote. The mention of Strategy (formerly MicroStrategy) highlights broader concerns in the market: companies that have driven Bitcoin higher may now close positions to cover losses or meet liquidity needs, exacerbating the market's decline.
Market Impact and Risks
The selling pressure comes as Bitcoin's price has fallen sharply from an all-time high of more than $125,000. A wave of corporate selling may accelerate the downward trend, creating a vicious cycle of price declines and forced liquidations. This dynamic is similar to previous crypto bear markets-with leveraged positions and overconfident hoarding leading to sharp corrections.
Although the total bitcoin holdings of these companies have increased, the value of their holdings has not increased simultaneously-suggesting that many purchases occur at or near the top of the market. The slowdown in the pace of holdings since May further suggests that corporate buyers are now more cautious or may have exhausted purchasing power.
What it means for investors
The behavior of these large holders is a key signal for retail investors and market observers. If major corporate holders start selling, it could mean a loss of confidence in Bitcoin's short-term prospects and trigger a broader market selling. Conversely, if these companies survive the decline, it could strengthen Bitcoin's claim as a long-term store of value.
The analysis also raises questions about the risk management strategies of companies that deploy large amounts of Bitcoin. Unlike diversified investment portfolios, concentrated crypto assets expose companies to extreme volatility, which may affect their share price, borrowing ability, and operational stability.
Conclusion
Darkfost's data highlights the dangerous situation faced by corporate bitcoin holders: After buying heavily at high levels, they now face difficult choices-whether to stop losses or survive volatility. Markets are watching closely because their next move could have a significant impact on Bitcoin price movements and even the entire crypto ecosystem.
Frequently Asked Questions
Q1: Which companies were included in the analysis?
The analysis covers a publicly known group of companies that continue to increase their holdings in Bitcoin, including Strategy (formerly MicroStrategy), and other companies and institutional holders that report positions in crypto assets.
Q2: How much bitcoins do these companies hold in total?
According to analyst data, from October 2024 to October 2025, the total positions of these companies increased from 953,000 bitcoins to 1.14 million bitcoins.
Q3: What would happen if these companies sold Bitcoin?
If major corporate holders sell bitcoin in large quantities, it may increase downward pressure on prices, which may trigger a broader sell-off by other investors and amplify market losses.
