A wave of bitcoin selling from public companies and sovereign entities is adding pressure to the bitcoin market, as firms that once called themselves long-term holders sit on long-term losses and move to shore up balance sheets, repay debt, and fund strategic pivots.

Companies including Riot Platforms, Genius Group, and Nakamoto Holdings have all reduced their bitcoin holdings this week, citing liquidity needs and operational priorities. 

The shift marks a drastic change from the accumulation trend that defined the past two years, when firms raced to build BTC treasuries during a period of rising prices.

Bitcoin HODL-ish

Empery Digital (EMPD) said it sold 370 BTC at an average price…

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