Bitcoin's price has dropped to $95,768 as corporate treasury purchases of the cryptocurrency have significantly slowed. Recent data indicates that weekly Bitcoin acquisitions by corporate treasuries have decreased to between $25 million and $50 million, a stark contrast to the billions added earlier this year. In October, companies added only 14,400 BTC, marking a 60% decline from September. Market analyst Satoshi Club attributes this slowdown to a reduced risk appetite within the crypto market. Notably, Strategy, under Michael Saylor's leadership, saw its Bitcoin holdings decrease by 15% to 640,808 BTC. Meanwhile, new entrants like Metaplanet and Coinbase have emerged as significant accumulators. The decline in corporate purchases coincides with broader market pressures, including ongoing US-China trade tensions.
Bitcoin Faces Pressure at $95,768 as Corporate BTC Purchases Decline
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