What Will the Slowing Growth of Bitcoin, Ethereum Treasury Buys Mean for Markets?

Core Insights - The slowdown in corporate crypto treasury purchases has significantly impacted market prices, which are already sensitive to inflation and macroeconomic uncertainties [1][2][4] - Bitcoin treasury buys have dropped to 12,600 BTC in August and 15,500 BTC so far in September, totaling less than half of July's acquisitions [3] - The decline in treasury activity has led to increased market volatility and a lack of confidence in the balance-sheet-as-strategy narrative [2][4] Company and Industry Impacts - Companies like Helius Medical Technologies and BitMine Immersion have seen their share prices drop significantly, with Helius falling 38% and BitMine down more than 13% over the past week [4] - The absence of steady corporate buying has left the market more vulnerable to volatility, as corporate demand was a key factor supporting prices [4] - Despite recent purchases, companies like Metaplanet have also experienced declines in share prices, indicating broader market challenges [5]