Bitcoin Treasuries Add 603 BTC Amid Strategy’s Pause

Corporate Bitcoin treasury firms collectively added 602.6 BTC, valued at approximately $46 million, during the past week, even as heavyweight players like Strategy and Bitmine paused their usual buying activity. The acquisitions came as Bitcoin’s price hovered in the mid-$70,000 range, reflecting continued interest from smaller institutional players despite broader market weakness.

According to filings and company announcements, the purchases included 381.6 BTC by asset manager Strive, 200 BTC by consumer brand DDC Enterprise Limited, 19 BTC by UK-based The Smarter Web Company (SWC), and 2 BTC by AI-focused Hyperscale Data. These acquisitions occurred at average prices ranging from $76,981 to $79,496, mostly during Bitcoin’s dip below $80,000.

While Strategy—known for its aggressive accumulation—has paused its weekly purchases after acquiring 24,869 BTC earlier this month for $2.01 billion, smaller firms have stepped in, suggesting the appetite for Bitcoin among corporate players remains intact. Notably, these buys come amid mounting outflows from spot Bitcoin ETFs, which recorded $1.54 billion in net redemptions over six trading days leading up to May 19, according to Farside Investors data.

Market Conditions Reflect Caution

As of May 26, Bitcoin trades at approximately $77,125, down 0.17% over the past 24 hours, with a market cap near $1.52 trillion. Recent price action has been choppy, with BTC testing support levels around $74,500 earlier this week before rebounding modestly. Analysts warn that weakening spot demand and rising exchange inflows could push Bitcoin lower in the near term, with $72,000 identified as a critical support zone. Resistance remains firm at $80,000–$82,000.

The buying by smaller treasury firms underscores a potential shift in market dynamics. While ETF outflows suggest waning retail enthusiasm, on-chain data from earlier this month indicates continued whale accumulation, signaling confidence among deep-pocketed investors. Santiment, a crypto sentiment analysis platform, argues that ETF outflows often serve as a contrarian indicator, reflecting retail rather than institutional sentiment.

What This Means for Traders

The average purchasing price of Bitcoin by these treasury firms—ranging from $76,981 to $79,496—offers a clear gauge of their long-term conviction in the asset. With BTC now trading below their entry levels, these companies are likely in unrealized loss territory, though they appear unfazed. For traders, this is a signal that institutional players may be eyeing Bitcoin’s current range as an accumulation zone, particularly near support levels around $75,000.

Looking ahead, Bitcoin’s ability to hold above $72,000 could determine the market’s next directional move. Should support levels break, downside risks could extend to the low-$70,000s. Conversely, reclaiming $80,000 would likely re-energize bullish momentum and attract fresh institutional flows, potentially reversing the current ETF outflows.

Overall, the data highlights a bifurcated market: smaller treasury players remain buyers on dips, while larger institutions like Strategy appear to be taking a breather after heavy accumulation earlier this month. Traders should watch for continued whale activity and key technical levels to assess whether Bitcoin’s recent range will persist—or break.

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