Crypto Giants Pause Bitcoin Buys After October Market Drop

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 28, 2025

Key Takeaways

Major Bitcoin-holding firms have paused new purchases since October 10, which shows caution despite market recovery;
Corporate Bitcoin buying has dropped to near yearly lows, as large investors remain hesitant after recent market stress;
BitMine Immersion Technologies continues steady ETH purchases, which keep corporate Ethereum demand positive.

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David Duong, who leads investment research at Coinbase $1.88B Institutional, said in a post on X that companies that invest in Bitcoin BTC $113,428.79 have largely paused buying since the crypto market dipped on October 10.

These companies, often known for making large purchases, have not returned in any meaningful way, even when market conditions seemed more favorable.

According to Duong, Bitcoin-focused firms have nearly stopped their activity, with buying levels falling to some of the lowest seen this year.

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The slowdown follows a period of market stress, where high levels of leverage were cleared out. Duong noted that even though prices may seem stable, large investors remain hesitant.

Meanwhile, one company has continued to actively purchase Ethereum ETH $3,991.80 . According to Duong, BitMine Immersion Technologies is the only treasury firm that has added to its ETH holdings since the drop.

Data shows that since October 10, BitMine has spent more than $1.9 billion to acquire roughly 483,000 ETH. A few other firms made smaller contributions, but BitMine’s activity has been the main reason Ether purchases by corporate investors have stayed positive overall in recent days.

Still, Duong warned that if BitMine slows or stops buying, the support seen in the Etherem market could quickly fade.

Meanwhile, stock exchanges in parts of Asia have become more cautious about allowing companies to focus on cryptocurrency holdings. Why? Read the full story.