Bitcoin treasury companies lose $80B as business model unwinds
Bitcoin (BTC)
Editor:
Eugene Serbin
cryptocurrency.com.tr reports that the top 50 Bitcoin treasury companies lost $80B in market cap as the digital asset strategy unwinds. Strategy alone accounted for $79B of this total decline. The data highlights a significant contraction in the market capitalization of these corporate holders. This unwind marks a major shift in the corporate Bitcoin treasury landscape.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 27 August 2026. Not the outlet's figures.
BTC is trading at $79,023.75 with a buy ratio of 48.0% over the last hour, which is lower than the 47.1% seen over the past four hours and the 49.9% over the last day. This indicates that short-term buying pressure is fading compared to the broader daily trend. The volume delta is negative across all timeframes, showing -$4,773,887 in the last hour and -$19,235,282 over four hours. A negative volume delta means that sell volume exceeds buy volume, suggesting that sellers are currently dominating the flow. The cumulative volume delta (CVD) for the day closed at -$69,880,309, confirming net outflows from the spot market.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the buy ratio averaged 51.6%, making today's 24-hour ratio of 49.9% slightly below the weekly norm. Volume is currently at 0.54x the weekly average, indicating a significant drop in trading activity compared to recent days. While the price has risen 14.0% over eight days, the current session shows reduced participation relative to that trend. This is an unusual day for volume, as it is less than half of the typical weekly level. Net buying days have been consistent, with 6 of the last 7 days showing positive flows, totaling +$445,688,281 in volume delta.