Bitdeer Records Sharp Weekly Decline in Bitcoin Holdings

Bitdeer, a popular Bitcoin ($BTC) mining platform, has gone through a stunning shift in $BTC flows. In this respect, Bitdeer has recorded massive $BTC outflows this week, resulting in a huge decline in its Bitcoin holdings. As per the Friday report of Bitdeer, the platform produced up to 148.0 $BTC throughout the past seven days while offloading the same amount at nearly 146.8 $BTC. So, it lost up to 398.8 $BTC, highlighting a noteworthy outflow in comparison with the previous weeks.

Bitdeer Undergoes Bearish $BTC Flows Amid Collateral and Liquidity Challenges

The market data reveals that Bitdeer has witnessed a bearish trend in terms of $BTC flows. Specifically, with a 398.8 $BTC loss over the week, the platform is struggling to maintain its position in the market. Even then, it maintains a staggering balance of almost 1,502.1 $BTC while having pledged 1,033 $BTC as collateral.

The respective weekly performance underscores a slight downturn in the platform’s growth trajectory. Additionally, this also points out that Bitdeer is focused on monetizing the mining operations instead of accumulating big reserves. At the same time, the negative flows signify tha company is leveraging its $BTC holdings, probably to deal with collateral and liquidity obligations.

Ongoing Strategy Sparks Concerns Over Further Growth Momentum Amid Volatility

While Bitdeer’s $BTC holdings stand at 1,502.1 $BTC, the collateralized portion, nearly 1,033.5 $BTC, suggests that it has linked most of its reserves to diverse financing activities. However, by selling the entirety of the weekly output thereof, the company shows a preference for rapid liquidity when compared with speculative holding. A key factor leading to this approach seems to be the rising market volatility.

According to Bitdeer, the negative $BTC flows and its cautious approach toward holdings focus on maintaining flexibility in collateral and liquidity for the consumers in the short term. Nevertheless, it also raises questions regarding the exposure and leverage. However, whether this approach leads to a bullish momentum remains to be seen over time.