Bitcoin extended its bearish streak, falling to a low of $61,073 before recovering slightly. At the time of writing, Bitcoin was trading at $62,860, down 14% in the past seven days.
With Bitcoin experiencing a sharp decline and hovering around $62,000, institutional investors, especially Bitcoin government bonds, are expecting losses.
Strategy losses reached $11 billion; Bitcoin government bonds are bleeding
Like Bitcoin [BTC] continued to decline, companies with BTC on their balance sheets have seen their losses rise. According to Look at chainAs the market fell, the strategy dropped $10.9 billion in BTC holdings.
Currently, Strategy owns 843.7k BTC with an average purchase price of $75.7k. So the total average cost base of the strategy is around $63.9 billion.
The market collapse and BTC trading at $62,000 dropped the company’s total Bitcoin holdings to $53.05 billion. As a result, total losses rose to $10.9 billion.
At its peak in October 2025, Strategy’s total BTC shares were valued at $79.8 billion. This means Strategy is down $26 billion from its 2025 peak.
Strategy is not the only one that counts losses. The Japanese Metaplanet even saw its shares fall in value. The total purchase cost of Metaplanet is approximately $3.9 billion.
With the market drop, Bitcoin holdings are worth $2.5 billion. This means that Metaplanet suffered a loss of $1.4 billion.
These losses have been recorded across all Bitcoin government bonds, with the total value of BTC held by these companies falling by $48 billion from its 2025 peak.
Institutional selling continues to weaken the market
In addition to mounting losses among Bitcoin government bonds, other institutional investors have continued to sell. US investors have shown particularly extreme bearishness.
The Coinbase Premium Index has remained negative for 30 consecutive days. At the time of writing, the statistic stood at around -0.12.
With this measure now negative, it suggests that US investors have been mostly selling, with little or no demand from the group.
In fact, Bitcoin’s Spot ETFs further confirm this selling activity. According to Sosovalue data, BTC Spot net inflows have remained largely negative, with net inflows recorded only twice in the past 30 days.
This shows strong bearish sentiment from key market players. Since ETFs and institutional investors entered the market, they have significantly influenced BTC’s price action.
When they are sold, the market tends to weaken, leading to further losses, and the opposite is also true. Therefore, BTC risks a prolonged period of weakness as long as institutions fear more losses and continue to sell.
Final summary
- Bitcoin Treasuries continue to bleed, with Straregy sitting on $10.9 billion in unrealized losses.
- BTC extended its bearish streak and fell to $61,078 as the risk of more losses seems inevitable.