ambcrypto.com
20 October 2026 04:57, UTC
The prolonged market weakness put pressure on some Bitcoin [$BTC] treasuries to maintain their holdings.
Some, including MARA Holdings, sold Bitcoin to fund operations. Others, such as Empery and Trump Media, sold to cut losses.
Yet recovering prices have increased the value of treasury holdings, giving firms more room to decide whether to hold or sell.
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Speculation about a potential MARA Holdings sale returned after another round of exchange deposits.
According to Lookonchain, wallets linked to MARA deposited 1,000 $BTC, worth $82.8 million, into Binance and Gate. The transfers recalled MARA’s earlier sales. In early 2026, the company sold 23,093 $BTC for $1.63 billion to fund AI infrastructure and operations.
The miner also sold 726 $BTC in early August to cover operational costs.
Although the latest deposits could precede a sale, they did not confirm one. The transfers could also reflect custody arrangements.
Still, MARA held approximately 35,500 $BTC worth $2.9 billion, with an average acquisition cost of $54,450. That left the company with substantial unrealized gains, even after its earlier disposals.
Across September and October, the value of Bitcoin treasury holdings rose from approximately $80 billion to over $100 billion. That recovery coincided with Bitcoin holding above $80,000 in October.
However, higher dollar valuations do not necessarily mean firms accumulated more $BTC. Rising prices can lift existing holdings’ value.
The recovery could encourage some firms to realize gains, although treasury holdings’ value remained below its 2025 peaks. Meanwhile, U.S. demand offered a less convincing signal.
The Coinbase Premium Index remained deeply negative for two consecutive months. This indicated that Bitcoin traded at a discount on Coinbase relative to Binance, consistent with weaker relative U.S. buying pressure.
The reading does not isolate institutional activity. Even so, a sustained recovery in the Index could strengthen the demand case.
Over the past day, Bitcoin rebounded from $80,684 to $83,158 before retracing.
At press time, $BTC traded around $82,204, up 0.21% over 24 hours. The rebound suggested improving momentum, although buyers had yet to hold the session’s higher levels.
Meanwhile, the Relative Strength Index (RSI) climbed from 46 to approximately 49, approaching its neutral midpoint.
A sustained move above 50 could support a bullish momentum shift, although it would not confirm a trend reversal alone. Holding $82,000 as support could give buyers another opportunity to challenge $84,000.
However, renewed selling pressure or weaker sentiment around MARA’s transfers could leave Bitcoin vulnerable to another test of $80,000.
