According to @EmberCN, several small treasury firms that pivoted during last year’s DAT boom have mNAV well below 1 and are being forced to sell crypto assets, indicating stress on balance sheets, source: @EmberCN, Jan 20, 2026. FG Nexus sold 2,500 ETH about four hours before the post, totaling approximately 8.04 million dollars, source: @EmberCN, Jan 20, 2026. FG Nexus previously accumulated 50,770 ETH at an average price of 3,944 dollars during August–September last year, valued around 200 million dollars at that time, source: @EmberCN, Jan 20, 2026.

According to the source, a new report finds most Bitcoin-stacking corporate buyers are currently sitting on unrealized losses, while a subset sold BTC into last month’s price decline, source: report referenced by the source. For traders, these findings flag a near-term supply watch: monitor on-chain flows from known corporate treasury addresses and any exchange inflow spikes to gauge selling pressure, source: report referenced by the source. Disclosure checkpoints such as U.S. SEC Form 8-K and Form 10-Q can also reveal material treasury activity, aiding confirmation of sales reported by the study, source: U.S. SEC Form 8-K and Form 10-Q instructions and report referenced by the source.