Search





Search





NewsCryptocurrencies

Bitcoin DATs Capitulate—Could This Rare Signal Mark A Bottom?

NewsBTCMay 2, 2026 3:00 AM

View all comments（0）



Data shows the Bitcoin treasury companies have shown an inflection recently, something that has turned out to be bullish in the past.

Last Two Bitcoin Treasury Capitulation Inflections Led To Bullish Action

In a new post on X, Capriole Investments founder Charles Edwards has talked about the latest trend in the buying participation of the Bitcoin Digital Asset Treasuries (DATs).

A DAT is a company that holds a cryptocurrency on its balance sheet as a way to provide its investors with exposure to the asset’s price movements. The most popular DAT strategy involves Bitcoin, the digital asset ranked largest by market cap.

The most prominent name in the space is Michael Saylor’s Strategy, which has been a relentless buyer of the cryptocurrency even as it has gone through a bearish transition since Q4 2025.

Unlike Strategy, though, the other DATs haven’t held the same amount of conviction in the asset. As the below chart shared by Edwards shows, the percentage of DAT firms participating in buying observed a decline as the bearish market shift occurred, with an especially sharp plunge coming in April.

It’s also visible in the chart, however, that since the drop to extreme lows in April, the metric has seen a quick bounce. This could potentially suggest that the DATs are at an inflection point.

The analyst has highlighted in the chart previous instances of this trend. “These inflections have been very bullish in the past,” noted Edwards. Though, while that has been true, the trend doesn’t have a large enough sample size yet. As such, it only remains to be seen whether things will work out similarly for Bitcoin or if the pattern will differ this time around.

In some other news, the recent Bitcoin price recovery has been driven by futures demand, as on-chain analytics firm CryptoQuant has explained in an X post.

As displayed in the above graph, the total Bitcoin demand has been rising recently, but the individual components have differed in trend. Spot demand has actually been contracting, meaning that derivatives demand has been the component driving the surge in the total demand.

The recovery rally back in January followed the same pattern before fizzling out. According to CryptoQuant, the same structure also appeared back in the 2022 bear market and preceded the next leg down for BTC. “It doesn’t guarantee the same outcome, but structurally, this is a bearish demand signal,” said the analytics firm.

BTC Price

Bitcoin has rebounded during the past day as its price has approached the $78,000 mark.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

S&P 500 Index Forecast: Meta, Microsoft, Alphabet and Other Companies Continue Increasing AI Investment, May Support Index Surpassing 8,000 in Second Half of 2026

TradingKey - The S&P 500 index has recently experienced volatility at high levels. As of the U.S. market close on July 16, the S&P 500 index stood at 7,533.77 points, falling 0.51% on the day. Despite the short-term pullback, technical indicators suggest the medium-to-long-term bullish trend remains intact, and institutions continue to hold a positive outlook for the future of the S&P 500.

Apple Hits Record High, Market Cap Surges to $4.9 Trillion: Why Full-Year Gains Lead the Mag 7?

TradingKey - Against the backdrop of a general pullback in the AI sector, Apple (AAPL) has staged an independent rally, driven by its unique ecosystem moat and robust financial performance. After reaching an all-time high of $323.45 on July 13, the share price hit another record high of $327.5 on July 15. Its market capitalization currently stands at $4.81 trillion, making it the second-largest company in the U.S. by market value as it approaches the epic $5 trillion milestone, trailing only Nvidia (NVDA) at $5.13 trillion. In fact, Apple's year-to-date gain in 2026 has reached 16%, also leading the "Mag 7."

SpaceX Negotiates Multi-Billion Dollar Computing Power Deal With Pentagon: Stock Price Drop Does Not Change Wall Street’s Bullish Expectations

Tradingkey - The Wall Street Journal reported that SpaceX (SPCX) is in negotiations with the U.S. Department of Defense to sell computing power. The deal could be valued at billions of dollars, and if finalized, would mark the latest major infrastructure contract for Elon Musk’s integrated rocket, satellite, and artificial intelligence conglomerate. The report noted that the partnership model for this deal is similar to previous agreements SpaceX reached with Alphabet’s Google (GOOGL) and AI firm Anthropic. The negotiations come as the U.S. military seeks to construct data centers within its military bases to bolster its autonomous computing capabilities.

US-Iran Conflict Escalates, International Oil Prices Surge Over 3%: WTI Crude Breaks $81, Strait of Hormuz Shipping Blocked

Tradingkey - On July 17 (ET), as the conflict between the U.S. and Iran continued to escalate, the two major crude oil futures rose again, returning to price levels seen in mid-June. As of press time, WTI crude futures rose over 3% to $81.05, while Brent crude futures also gained more than 3% to $87.01. The confrontation between the two sides has intensified as the fragile ceasefire agreement signed by the U.S. and Iran last month shows further signs of breaking down.

Micron Stock Price Prediction: MU Breaks $898 Support as Memory Boom Faces Capacity Risk

Micron posted record fiscal Q3 revenue of $41.46 billion and guided for $50 billion in Q4 sales, but MU has broken below $897.80 support as investors assess capacity growth and peak memory margins.

Featured Tools