Bitcoin and Altcoins Cause Serious Declines in Traditional Markets

In recent days, sharp declines have not only affected the cryptocurrency market but also profoundly impacted companies that hold these assets on their balance sheets, including Bitcoin (BTC) and altcoins. The struggle of Bitcoin to stabilize around the 100 thousand dollars threshold has echoed significantly in traditional markets. CryptoQuant analysts emphasized that public companies with positions in Bitcoin and major altcoins have experienced substantial losses in value.

Companies like Strategy, BitMine, Metaplanet, and Evernorth, which are particularly noted for their digital asset treasuries, have faced significant pressure in recent weeks. Strategy's stock recently experienced a 53 percent loss, dropping to 221 dollars. This situation corresponds to the lower limit of the MSTR price bands based on the company's Bitcoin assets.

Japan-based Metaplanet had purchased 30.8 Bitcoin at an average price of 106 thousand dollars. However, the company has faced a loss of approximately 120 million dollars to date, and its stock is trading 80 percent below its all-time high. This raises serious concerns for investors.

Altcoin accumulations are similarly experiencing value losses. Evernorth had purchased 388.7 million Ripple (XRP) for approximately 947 million dollars just 2.5 weeks ago as part of a buying spree. However, the value of this position has now declined to around 868 million dollars, resulting in a loss of approximately 79 million dollars.

Similarly, BitMine has added 442 thousand Ethereum (ETH) since the market crash on October 10, yet due to the collapsing market conditions, it is carrying a loss of around 2.1 billion dollars. As highlighted by the CryptoQuant analyst, the declines in the stock prices of crypto-related companies indicate that the market is still in a high-leverage unwinding process.

For investors, key points to watch for future movements include the price levels of Bitcoin and altcoins, along with the general volatility of the market. In this process, carefully monitoring support and resistance levels is critically important for investors to predict upcoming directions.