3 weeks ago
5
Key Takeaways
- Treasury company market cap down from $396B to $272B since October 2025; buying nearly halted since May.
- Whale longs rose around the $58,000 bottom while retail bets on more downside, per Alphractal.
- Fidelity’s power law chart puts BTC in an accumulation zone, support line near $56,488.
- Visser’s markers: RSI divergence in, $60,000 entry, 200-day near $76,000 confirms.
Data published this week describe the same market from three altitudes: corporate treasury flows, derivatives positioning, and Fidelity’s long-run power law framework. Read together, they show a bottom being contested by completely different hands than the ones that built the top, and one veteran macro voice argues the process has just produced its first technical confirmation.
The Corporate Bid Bought High and Froze Low
CryptoQuant analyst Darkfost wrote on X that the cumulative market capitalization of Bitcoin treasury companies has fallen from $396 billion in October 2025 to $272 billion...
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