Daily corporate BTC treasury buying falls from $500 million peaks to near zero as bitcoin drops below $60,000 amid weak sentiment.
Bitcoin’s decline from $74,000 to below $60,000 has coincided with a sharp drop in corporate treasury purchases, removing a key demand driver. Firms accumulating BTC as a treasury asset have scaled back daily buying from over $500 million earlier this year to minimal levels in June.
U.S.-listed spot bitcoin ETFs have seen $5.7 billion in net outflows since mid-May, amplifying selling pressure. While corporate treasuries remain net buyers, their reduced activity signals caution amid broader market weakness.
Analysts note the pullback reflects diminished marginal demand, compounding the impact of ETF outflows on bitcoin’s price decline.