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Big Whale Trading
📉 Bitcoin treasury companies just stopped buying
Glassnode data shows listed treasury firms added only ~5,900 BTC across all of 2026 so far $BTC
For comparison, they added 89,000 BTC in July 2025 alone
That's not a slowdown. That's a halt
And there's a detail most people are missing 👀
The group's average cost basis sits near $80,500 — about 6% above spot
Meaning the entire cohort is underwater right now
Strategy is holding 845,050 BTC at a $75,412 cost basis
$ETH
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