Bitcoin and Altcoins are Causing Serious Declines in Traditional Markets

In recent days, the sharp declines have not only affected the cryptocurrency market but also the companies holding these assets on their balance sheets, including Bitcoin (BTC) and altcoins. The struggle of Bitcoin to maintain the $100,000 threshold has had serious repercussions in traditional markets as well. A CryptoQuant analyst emphasized that the value losses of publicly traded companies holding Bitcoin and major altcoin positions have reached a significant level.

Companies such as Strategy, BitMine, Metaplanet, and Evernorth, which draw attention for their digital asset treasuries, have faced significant pressures in recent weeks. The share price of Strategy recently experienced a 53% drop, falling to $221. This situation corresponds to the lower limit of the MSTR price bands based on the company’s Bitcoin assets.

Japan-based Metaplanet had acquired 30.8 Bitcoin at an average price of $106,000. However, the company has faced approximately $120 million in losses to date, with its shares trading 80% below their all-time high. This situation raises serious concerns for investors.

Altcoin holdings are also experiencing similar declines in value. Evernorth, just 2.5 weeks ago, started a buying process, purchasing 388.7 million Ripple (XRP) for approximately $947 million. However, the value of this position has decreased to approximately $868 million, resulting in a loss of around $79 million.

Similarly, BitMine has added 442,000 Ethereum (ETH) since the market crash on October 10, but due to the declining market conditions, it carries approximately $2.1 billion in losses. According to the CryptoQuant analyst, these declines in stock prices of crypto-related companies indicate that the market is still in a process of high leverage liquidation.

For investors, key points to pay attention to regarding future movements include the price levels of Bitcoin and altcoins, as well as the overall volatility of the market. During this process, carefully monitoring support and resistance levels is critically important for investors to predict upcoming directions.