Bitcoin Selloff Continues as Miners Dump Holdings

The cryptocurrency market is witnessing a rare selling streak among bitcoin treasury firms, with Bitdeer Technologies leading the charge. The Singapore-based miner has fully liquidated its corporate bitcoin treasury, selling all newly mined and reserve BTC over eight weeks, including 943.1 BTC in a single week. This move marks a sharp break from the traditional public miner strategy of accumulating bitcoin as a treasury asset.

According to a report by Cointelegraph, Bitdeer's decision to sell its bitcoin holdings is part of an eight-week drawdown that began at the end of 2025. The company produced 189.8 BTC during this period and sold the entire amount, in addition to offloading its remaining 943.1 BTC in reserves. This has resulted in Bitdeer becoming the largest publicly traded miner by self-mining hashrate to hold no bitcoin on its balance sheet.

Other mining firms seem to be following suit, with continued selling from treasury companies and US Bitcoin ETFs threatening a deeper retracement for BTC. However, analysts view this as a sign of a healthy flush in speculative leverage. As one expert noted, "This selling streak is a natural correction in the market, and it's a sign that the market is maturing."

Despite the selling streak, the global crypto market cap has surged to $3.22 trillion, with majors continuing to grind up. Bitcoin is up 1% at $93,780, while Ethereum has gained 2% to $3,240. XRP led the charge, up 12% to $2.37, followed by Render (+18%), SUI (+18%), and LIT (+15%).

In other news, Japan's finance minister has endorsed deeper crypto integration, including lower taxes and exchange-level reforms. This move is seen as a significant boost to the crypto market, which has been facing regulatory hurdles in recent times.

Meanwhile, Vitalik Buterin, the co-founder of Ethereum, has claimed that the platform has effectively solved the "Blockchain Trilemma" by balancing decentralization and scalability through its Layer-2 roadmap. This development has significant implications for the future of the crypto market, as it could lead to wider adoption of Ethereum and other blockchain platforms.

However, not all news is positive. Kraken is investigating reports that customer data is allegedly for sale on the dark web following a potential security exploit. Ledger users are also on high alert as the hardware wallet provider faces a data breach involving its e-commerce partner.

In a related development, DAO governance has come under scrutiny, with experts arguing that it always turns political. Rune Christensen, a prominent figure in the crypto space, has explained why DAO governance becomes a struggle for resources and how the "iron law of bureaucracy" emerges. This has significant implications for the future of decentralized governance and the crypto market as a whole.

In conclusion, the bitcoin selloff continues as miners dump their holdings, but the global crypto market cap surges to new heights. As the market continues to mature, it's essential to keep a close eye on regulatory developments, security concerns, and the ongoing evolution of DAO governance.

Sources:

• Bitdeer Technologies
• Cointelegraph
• Camila Russo
• Reuters
• CoinMarketCap
• Kraken
• Ledger