The total value of Bitcoin held by corporate treasuries surpassed $100 billion for the first time since early June, reaching $109 billion on August 28th. However, fresh exchange transfers from Japan-based firm Metaplanet have raised questions about potential selling pressure, though the company’s official holdings remain unchanged.
Corporate Bitcoin holdings reached a combined value of $109 billion, a level not seen since early June. Data from Bitcoin Treasuries shows this milestone reflects Bitcoin’s recent price recovery.
Metaplanet moved 3,881 Bitcoin worth $247 million in an earlier transaction, but its recorded holdings remained unchanged. More recently, on-chain tracker Lookonchain reported another deposit of 3,000 Bitcoin, valued at $237 million, into Coinbase Prime.
Like the previous transfer, these coins have not yet been sold. The activity could reflect internal reorganization or preparations for a potential sale, though its purpose remains unconfirmed. According to Bitcoin Treasuries, Metaplanet still holds 43,000 Bitcoin worth $3.3 billion.
A confirmed sale could increase market pressure, but until then, the transfer’s direct market impact remains neutral. Broader exchange-side pressure has remained limited, as Bitcoin’s Exchange Supply Ratio fell to a monthly low of 0.134 over ten days.
This decline indicates a smaller proportion of Bitcoin’s supply sits on exchanges. Reduced exchange supply has historically supported stronger price moves by limiting readily available selling liquidity.
Bitcoin recently fell from $81,000, lost the $80,000 level, and reached $77,000. Despite this dip, the Aroon Up indicator stands at 92%, while the Aroon Down sits at 7%, a setup suggesting the asset has recently formed highs more frequently than lows.
However, the Arithmetic Mean Line Average (ALMA) reflects short-term weakness. Bitcoin trades below the ALMA at $78,647, indicating that immediate downside pressure has strengthened. Confirmed selling from Metaplanet could deepen that pressure and expose Bitcoin to a possible decline toward $73,000. By contrast, renewed buying could shorten the pullback and help Bitcoin reclaim $80,000.
