Bitcoin Treasury Firms' Purchase-to-Sales Ratio Falls Below 90%

Capriole founder Charles Edwards said the purchase-to-sales ratio for Bitcoin (BTC) treasury companies fell below 90%, a level he called a capitulation signal tied to three earlier buying opportunities.

In a Nov. 11 post, Edwards said treasury companies were selling in the short term. He said the threshold had appeared three times previously and viewed each earlier instance as a good buying opportunity for Bitcoin.