π The 30D-SMA of total
#trading volume across bitcoin:native treasury companies has declined from $34.2B/day in December 2025 to $17.4B/day today, marking a 49% drop in roughly six months. Speculative interest in DAT equities closely tracks
#BTC price. As spot has pulled back, the appetite for leveraged
#Bitcoin exposure through listed treasury vehicles has followed, cutting activity in half from its peak.
#crypto