Corporate Bitcoin Adoption Falls 95% Since July – BTC Bull Run Over?

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Anas HassanTue, Sep 16, 2025, 4:42 PM 4 min readCorporate Bitcoin adoption is losing steam as monthly data shows that since July, there’s been a 95% drop in the number of companies adopting Bitcoin as a reserve asset, which has made many speculate whether the BTC bull run is over.According to recent data from CryptoQuant, 2025 peaked with 89 new companies adding BTC to their balance sheets, up from just 6 in 2020.But that momentum is starting to slow.The trend started slowly with just 4 companies in January, then grew steadily through July, which saw a peak of 21 new adopters.However, August marked a sharp reversal with only 15 companies joining – a drop of 6 from July’s high.September has been even worse, with just one company adopting Bitcoin so far.Similarly, the stock prices of most Bitcoin Treasury companies are starting to cool down after massive rallies.Source: CryptoQuantFor example, the Blockchain Group, which went up +1,820% following Bitcoin treasury adoption at the peak, is now down 35% in the last month.Similarly, Metaplanet Inc saw a +355% at the peak, now down 33.2% which is a sign that the Bitcoin adoption hype is deflating as reality sets in.Analysts believe the corporate Bitcoin accumulation has been a key driver of Bitcoin’s explosive rally.Bitcoin is up 96.75% year-to-date (YTD), which has been mostly as a result of corporate buying and institutional buying via ETFs.Data from Bitcoin Treasuries shows that over 3.7 million BTC are being held by treasuries. Public companies hold the second largest with over 1 million BTC, only bettered by ETFs with 1.47 million BTC.Source: Bitcoin TreasuriesHowever, economists worry that slowing corporate buying could hurt Bitcoin prices, especially if companies start selling.According to a research report from Sentora shared with Cryptonews in August, analysts warn that corporate Bitcoin strategies don’t work well in rising interest rate environments.Most Bitcoin treasury companies are unprofitable and rely on Bitcoin’s price gains to stay solvent.Vincent Maliepaard from Sentora calls these “negative-carry trades”, as companies borrow money to buy Bitcoin, which produces no income.Coinbase research adds that the corporate treasury trend has shifted from easy profits to intense competition, warning that many participants could fail during economic downturns.Crypto analyst Ran Neuner claims many treasury firms are just exit schemes for insiders.JP Morgan and other big analysts are expecting a market dump before a reversal.They project that $BTC will dump towards $104,000 level before reversal or dump towards $92,000 level, which also has a CME gap before reversal and a new ATH.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,600.35 -6.41 (-0.10%)Dow 3046,018.32 +260.42 (+0.57%)Nasdaq22,261.33 -72.63 (-0.33%)Russell 20002,407.34 +4.31 (+0.18%)VIX15.72 -0.64 (-3.91%)Gold3,697.40 -20.40 (-0.55%)PortfolioSign in to access your portfolioSign inTop gainersBGM BGM Group Ltd. 10.44 +2.23 (+27.16%)QMMM QMMM Holdings Limited 105.64 +17.64 (+20.05%)QBTS D-Wave Quantum Inc. 22.54 +3.56 (+18.76%)OPEN Opendoor Technologies Inc. 10.21 +1.29 (+14.46%)LYFT Lyft, Inc. 22.84 +2.65 (+13.13%)Top losersGEMI Gemini Space Station, Inc. 24.53 -3.60 (-12.80%)FIGR Figure Technology Solutions, Inc. 37.17 -3.31 (-8.18%)TREX Trex Company, Inc. 53.84 -4.45 (-7.63%)MANU Manchester United plc 15.38 -1.03 (-6.28%)ARW Arrow Electronics, Inc. 119.08 -7.92 (-6.24%)Most activeOPEN Opendoor Technologies Inc. 10.21 +1.29 (+14.46%)PLUG Plug Power Inc. 2.0000 +0.3200 (+19.05%)NVDA NVIDIA Corporation 170.29 -4.55 (-2.60%)BBAI BigBear.ai Holdings, Inc. 6.02 +0.08 (+1.35%)SNAP Snap Inc. 7.99 +0.25 (+3.23%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersAVGO Broadcom Inc. 346.17 -13.83 (-3.84%)QBTS D-Wave Quantum Inc. 22.54 +3.56 (+18.76%)STUB StubHub Holdings, Inc. 22.00 -1.50 (-6.38%)PYPL PayPal Holdings, Inc. 68.62 +1.77 (+2.65%)LYFT Lyft, Inc. 22.84 +2.65 (+13.13%)Top economic events