Bitcoin treasury firms resume buying after April capitulation, prior inflections preceded rallies
DAT buying rebounds; futures push Bitcoin toward $78k
Bitcoin treasury firms show a fresh buying inflection after April lows. The last two inflections preceded bullish moves.
Digital Asset Treasuries (DATs) hold crypto on balance sheets. They give investors direct price exposure. Context here: what DATs are.
Charles Edwards flagged a rebound in DAT buying participation. His chart shows a sharp April plunge, then a quick bounce. Source: Edwards on X.
Strategy kept buying through the drawdown since Q4 2025. Others didn’t. Background: Strategy’s activity.
“These inflections have been very bullish in the past,” Edwards wrote. He also noted the sample size is still small. Chart and comment.
Total demand for BTC is rising. Spot demand is contracting. Futures are driving the move. CryptoQuant tracked the same structure in January before the rally faded, and in 2022 before the next leg down. “It doesn’t guarantee the same outcome, but structurally, this is a bearish demand signal,” they said. Sources: CryptoQuant on X, context on futures activity here and Dogecoin.
- DAT participation bounced after an April plunge source.
- Prior two inflections preceded rallies, per Edwards source.
- Futures lead demand; spot contracts, per CryptoQuant source.
- Similar demand mix in Jan 2026 and 2022 preceded weakness source.
BTC rebounded toward $78,000 in the past day.
