Bitcoin Slips 12% In 3 Months Despite Corporate Buying – What's Behind The Decline And What's Next?

+0.86%

-0.09%

+3.34%

+8.55%

-1.63%

GameStop Corp. Class A GME	22.28	+0.86%
MARA Holdings MARA	10.69	-0.09%
Strategy MSTR	167.50	+3.34%
Semler Scientific, Inc. SMLR	17.40	+8.55%
METAPLANET INC MTPLF	2.60	-1.63%

Bitcoin (CRYPTO: BTC) is increasingly popular among corporate buyers, with on-chain data suggesting ongoing accumulation by other large entities.

What Happened: In a detailed X thread on Wedneday, research firm CryptoQuant pointed out that despite public companies accumulating 91,781 BTC in Q1, Bitcoin dropped 12%, from $94,400 to $82,500.

Tether emerged as a surprise buyer, adding 8,888 BTC, while Strategy (NASDAQ:MSTR) made the largest move, acquiring 81,785 BTC for more than $8 billion.

Other buyers included The Blockchain Company (+605 BTC), Semler Scientific Inc (NASDAQ:SMLR) (+1,108 BTC) and Metaplanet (+2,285 BTC) (OTC:MTPLF).

On-chain analytics shows more corporate buying could be on the horizon, with Marathon Digital (NASDAQ:MARA) planning a $2 billion stock sale for BTC purchases and GameStop (NYSE:GME) exploring a $1.3 billion Bitcoin strategy through a convertible note offering.

However, the price decline was driven by long-term holders selling 178,000 BTC in Q1, outweighing corporate accumulation. Additionally, $4.8 billion in Bitcoin ETF outflows added further downward pressure on price.

Also Read: Bitcoin Is In A Mini Bear Market, Says 10x Research

Why It Matters: Glassnode data listed several bullish indicators for Bitcoin:

Retail investors (under 1 BTC) are offloading while whales (10+ BTC) accumulate, highlighting a divergence in investor sentiment.
Bitcoin holders in the 3–6-month range (nearing long-term holder status) are holding strong despite volatility. Spending activity from this group is at its lowest since mid-2021, suggesting conviction, not panic selling.
BTC holders from 2020-2022 are still holding significant wealth, despite a 3% decline in their share since the November 2024 peak.

Crypto investor and entrepreneur Ted Pillows highlighted Bitcoin ETF outflows of $157.8 million on Tuesday amid concerns over Trump’s tariff policy.

What's Next: Crypto trader Altcoin Sherpa notes sideways price action, with a lower low on the 4-hour chart.

The traders urges caution, with volatility expected in the current week.

Arguments all over the place on what $BTC price is doing, this entire consolidation region is just a chop fest. Can make arguments that we just made a lower low on the 4h but I don't think you can really tell too much on this price action. Would rather just be on guard over the… pic.twitter.com/B2ZSk1CtZu
— Altcoin Sherpa (@AltcoinSherpa) April 2, 2025

Read Next:

Bitcoin Reclaims $84,000: Is The Correction Nearing Its End?

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