Woofun AI data shows that the aggregate market capitalization of global Bitcoin treasury companies declined from $396 billion to $272 billion since October 2025, a reduction exceeding $100 billion.

Concurrently, total Bitcoin holdings by these entities rose from 953,000 to 1.14 million coins, indicating that the valuation drop resulted solely from price depreciation rather than asset liquidation.

Analyst Darkfost noted that accumulation momentum has nearly halted since Bitcoin entered an undervalued range in May. The most aggressive buying occurred between November 2024 and October 2025, when holdings tripled within a purchase range of $75,000 to $125,000. With Strategy recently initiating Bitcoin sales, there is concern that other firms may follow suit to manage financial pressure, potentially introducing new downside risk to Bitcoin prices.