Treasury Sell-Offs and Mining Woes Weigh on Bitcoin's Price

Bitcoin's price remained stable near $65,000 this week as publicly listed companies that built their business strategy around accumulating BTC began reducing their holdings or restructuring their finances.

Several companies, including Satsuma Technology and Smarter Web Company, have started selling part of their Bitcoin reserves to repay debt and strengthen their balance sheets after a prolonged decline in both Bitcoin and their own share prices made raising fresh capital more difficult.

The shift comes as Strategy (formerly Microstrategy) hasn't purchased any BTC in the last four weeks. Instead, the company has sold stocks to increase its cash reserves to $3.2 billion.