Bitcoin Treasury Demand is Weakening, CryptoQuant Cautions

Good Morning, Asia. Here’s what’s making information within the markets:

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Bitcoin treasury corporations have been the speak of the city through the latest BTC Asia convention in Hong Kong, and onchain information reveals they maintain greater than ever of their digital coffers, however a brand new report from CryptoQuant highlights that they’re being a bit extra cautious of their crypto buys.

CryptoQuant information reveals mixture BTC treasury holdings hit 840,000 BTC this yr, led by Strategy with 637,000 BTC.

Yet the common buy measurement has collapsed: Strategy purchased simply 1,200 BTC per transaction in August, whereas different companies averaged 343 BTC. Both figures are down 86% from early 2025 highs, signaling smaller, extra hesitant buys that recommend liquidity constraints or waning conviction.

The numbers present a placing divergence. Transaction exercise is close to report ranges, 53 offers in June and 46 in August, however every deal includes far much less bitcoin.

Strategy acquired solely 3,700 BTC in August in comparison with 134,000 BTC at its peak final yr, whereas different treasury companies slipped to 14,800 BTC from highs of 66,000 BTC.

The decline in common deal measurement suggests treasuries are nonetheless energetic however unwilling to commit giant blocks of capital, reflecting each liquidity constraints and a extra cautious market psychology.

All of this must be thought-about a priority for buyers, as BTC’s worth development within the second quarter of the yr was largely pushed by accumulation by treasury corporations, CoinDesk Indices information reveals.

By late August 2025, establishments have been absorbing greater than 3,100 BTC a day towards simply 450 mined, making a 6:1 demand-supply imbalance that underscored how relentless institutional shopping for was driving bitcoin’s worth increased, CoinDesk reported on the time.

This slouching demand raises the chance that the present worth energy could also be much less sustainable if treasuries proceed shopping for cautiously somewhat than at scale.

That’s to not say that there is not development within the BTC Treasury sector. It’s simply smaller.

Bitwise reviews that 28 new treasury corporations have been fashioned in July and August alone, collectively including greater than 140,000 BTC.

Meanwhile, Asia is rising as the following entrance for digital asset treasury corporations as Taiwan-based Sora Ventures has launched a $1 billion fund to seed regional treasury companies, with an preliminary dedication of $200 million.

Unlike Metaplanet, Asia’s largest public treasury agency with 20,000 BTC on its steadiness sheet, Sora’s car will pool institutional capital to assist a number of entrants.

Whether Asia’s new wave offsets the shrinking chew sizes of incumbents in accumulation is now the central query for the following section of bitcoin adoption – and the place the worth is going.

Market Movement

BTC: Bitcoin stays resilient across the $110K–$113K vary, supported by expectations of Federal Reserve charge cuts, rising institutional inflows through ETFs, and improved market sentiment amid macroeconomic uncertainty

ETH: Ethereum is buying and selling close to the $4,300 stage. Its short-term weak point, with a 3.8% weekly decline, is ascribed to ETF outflows and seasonal subdued buying and selling in September. However, longer-term outlook stays constructive, buoyed by institutional curiosity, rising staking exercise, and speculative forecasts focusing on $4,600–$5,000 if resistance breaks

Gold: Gold is rallying to report ranges amid a mixture of weak U.S. jobs information, heightened Fed easing expectations, a mushy U.S. greenback, political and financial uncertainty, and continued central financial institution accumulation of bullion.

Nikkei 225: Asia-Pacific shares principally rose Monday, with Japan’s Nikkei 225 up 1.5% after Prime Minister Shigeru Ishiba resigned following stress from his election defeat.

Elsewhere in Crypto

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• Why SharpLink’s CEO Thinks Bitcoin Creator Satoshi Nakamoto Will Return (Decrypt)
• The Funding: Why crypto VCs are betting on prediction markets now (The Block)