Bitcoin (BTC) extended its decline on Friday, sliding to levels not seen since 
early February, leaving the broader market under renewed pressure and 
deepening bearish sentiment. Since reaching its all-time high of $126,000 last 
October, Bitcoin is now down roughly 52%, reinforcing the sense that the sell- 
off is more than a short-term dip. Bitcoin Treasury Stocks Fall From $134B To 
$72B While traditional market weakness has been part of the story, whale 
activity has also played a major role in the most recent drop. One of the 
clearest signals that unnerved traders came from Strategy (MSTR). Related 
Reading: XRP Price Falls To 4-Month Lows—Charts Signal Sell, On-Chain Data 
Turns Bearish As previously reported by NewsBTC, Strategy sold Bitcoin for the 
first time in nearly four years. The company offloaded 32 BTC for 
approximately $2.5 million—an amount that may look small compared with overall 
market volumes. However, the real impact has been psychological. Watching the 
largest Bitcoin public holder and the face of the “never sell” narrative break 
that behavior sent a shockwave through crypto sentiment. The broader market’s 
reaction has been visible in equity-linked crypto holdings as well. Artemis 
data cited by Bloomberg shows that the combined market value of fully diluted 
Bitcoin treasury company stocks has fallen to about $72 billion, compared with 
nearly $134 billion at the most recent peak in early October. That means 
roughly $62 billion has been erased during the downturn. Support Could Form 
Between $54,000 And $50,000 Hayden Hughes, managing partner at Tokenize 
Capital, said the current environment forces difficult choices for these 
digital-asset treasuries. In his view, once prices unwind, companies face a 
stark decision: either default on their debt obligations or sell assets. 
Hughes added that this kind of forced selling damages the market’s earlier 
assumption that Bitcoin treasury holders would behave like permanent “buy and 
hold” participants. When that expectation breaks, sentiment can deteriorate 
quickly, making rebounds less likely under these conditions. Related Reading: 
Coinbase Reveals First Mortgage With Bitcoin Collateral Under Fannie Mae 
Coverage Market analyst Ali Martinez recently posted on X (formerly Twitter) 
that Bitcoin is approaching a market bottom. Martinez identified the MVRV 
Pricing Bands as a useful framework for determining where support could 
emerge. He stated that the next significant support level is between $54,000 
and $50,000, which could serve as a floor for the cryptocurrency. However, 
this would require an additional 17% retracement from current trading levels 
of $60,444. Featured image created with OpenArt; chart from TradingView.com

Bitcoin (BTC) extended its decline on Friday, sliding to levels not seen since early February, leaving the broader market under renewed pressure and deepening bearish sentiment. Since reaching its all-time high of $126,000 last October, Bitcoin is now down roughly 52%, reinforcing the sense that the sell- off is more than a short-term dip. Bitcoin &#8230;

Bitcoin Crashes Near $60,000: $62B In Treasuries Erased, Analyst Sees Potential Bottom Ahead

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Bitcoin Crashes Near $60,000: $62B In Treasuries Erased, Analyst Sees Potential Bottom Ahead

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