Bitcoin News Today: Institutional Sales, Corporate Debt Moves Weigh on Bitcoin

Bitcoin's recent price decline has drawn scrutiny from market analysts, with CryptoQuant's head pointing to a combination of institutional profit-taking and waning demand as key drivers of the bearish trend. Despite a 0.54% rebound on October 31, 2025, following Prenetics Global Limited's $11 million Bitcoin purchase, according to a Bitget report, the cryptocurrency remains down 3.42% over the past week and is struggling to hold above $109,000, according to a TradingView note.

The health sciences company Prenetics, which has been methodically accumulating Bitcoin since June 2025, according to Investor Empires, expanded its holdings to 378 BTC ($41 million) after its latest acquisition. CEO Danny Young emphasized the purchase aligns with the firm's dual strategy of scaling its IM8 health brand and building long-term value through Bitcoin treasury management. However, the move has not been enough to offset broader market pressures.

Long-term Bitcoin holders have been offloading significant assets, with data from CryptoQuant revealing over $43 billion in sales by institutional and "OG" investors over the past month, according to a Yahoo Finance report. This trend, coupled with a 7-day price drop, has raised concerns about market resilience. Meanwhile, spot Bitcoin ETFs—launched in Q1 2024—saw $488.43 million in outflows on October 30, signaling reduced institutional appetite.

The bearish momentum is further amplified by corporate actions. Sequans Communications recently sold 970 BTC to reduce debt, cutting its holdings from 3,234 to 2,264 coins, according to a Coinotag report. While the company maintains its Bitcoin allocation strategy, the move reflects a broader trend of firms monetizing digital assets for liquidity. Similarly, long-term holders have been transferring coins to exchanges, adding selling pressure.

Despite these headwinds, some analysts argue the sell-off is part of a normal bull market rotation. Credible Crypto notes that long-term holders are redistributing Bitcoin to traditional finance and institutional investors. On-chain researcher Willy Woo also highlighted that bull markets often see reduced holder supply as assets shift to new custodians.

Looking ahead, the market remains in a wait-and-see mode, with investors eyeing the Federal Reserve's December meeting for clues on monetary policy. Technical indicators show Bitcoin testing critical support levels around $109,000, and analysts warn that a break below this threshold could trigger further consolidation.