Here’s What’s Driving The Bitcoin Price Crash Toward $60,0000

[Ben Graham]

In six months, the Bitcoin price has crashed by around 50%, dropping below $64,000 at the start of this month. Naturally, this has triggered a cascading event, with devastating effects on the rest of the market, and questions about what could be driving the decline. With no notable event driving the crash, as was seen in 2022 with the crash of the FTX crypto exchange, the simple answer has pointed to one thing: large investors are selling.

Corporate Holders Are Getting Out Of Bitcoin

In an X post, Coin Bureau highlighted an interesting trend among corporate Bitcoin holders that could explain the sustained decline the digital asset has suffered in recent times. According to the chart shared on the post, these large corporate holders have been dumping their holdings.

For the better part of 2025, there had been a clear trend of accumulation among corporate buyers. Sometimes, the buying trend would be sustained for weeks before a sell-off trend would be recorded. However, this is quickly changing as the last few weeks have been dominated by dumping.

The post showed that in the last three weeks, there has been no buying done. Rather, corporate investors have been dumping BTC on the market. For context, the longest selling streak among these large investors recorded in history was two weeks before buying began again.

However, at the time of writing, only outflows have dominated the treasuries of these companies, marking a new record since companies began buying Bitcoin in 2020. Given this, it is possible that the accumulation trend that drove Bitcoin to new all-time highs in 2025 may have ended.

Data from CoinShares also corroborates this sell-off trend. In its Digital Asset Fund Flows Weekly Report, it shows that in just the last week alone, Bitcoin lost $215.3 million to outflows from digital asset funds, thereby leading the sell-offs.

In the same vein, Ethereum suffered outflows of 36.5 million, and multi-asset funds saw $32.5 million in outflows. Interestingly, though, the likes of XRP and Solana continue to see inflows, despite their poor performance in the market.

Given this trend, it shows that corporate investors are looking to altcoins for likely higher profit margins compared to Bitcoin. As supply continues to pile up in the market, it is likely that the Bitcoin price will continue to fall until buying picks up once again.