BiyaPay Analyst: Funding Craze Peaks, Treasury Model Recedes, Bitcoin Faces Major Pullback

September 22nd. As per the analysis by BiyaPay, this year the Digital Asset Treasury (DAT) company has managed to raise more than 20 billion US dollars. It was once regarded as the hottest "blue ocean track" in the crypto market. Nevertheless, with the compression of premiums, the pressure on liquidity, and the valuation falling below the net asset value, the industry is rapidly sliding into the "red ocean". There is an imminent intensification of competition and M&A consolidation. The top companies are striving for differentiation through token investment and enhanced liquidity, while most small and medium-sized companies are grappling with net asset discounts and financing difficulties. A more perilous signal is emerging in the Bitcoin market. As the financing frenzy of digital asset treasury companies reaches its peak and the net asset discounts intensify, once these companies holding a substantial amount of crypto assets are forced to sell, the market is likely to trigger a chain reaction. BiyaPay analysts pointed out that if treasury companies begin large-scale coin sales, Bitcoin is highly prone to plummeting and entering a deep adjustment cycle. In stark contrast to the soaring of the US stock market and blind optimism in funds, the potential risks of the crypto market are being seriously underestimated. In the current situation where the market appears prosperous on the surface but there are undercurrents surging beneath, BiyaPay offers investors spot contract zero transaction fee trading and supports direct investment in US and Hong Kong stocks through USDT, enabling users to flexibly allocate to multiple asset markets. Facing the potential plunge of Bitcoin and the trend of fund migration, investors can only rely on more efficient trading tools and rational judgment to seize the opportunity during this period of transformation.