Pseudonymous analyst DonAlt warns that the growing number of institutions and companies holding Bitcoin on their balance sheets may lead to a severe market downturn in the future. Recent data from BitcoinTreasuries indicates that institutional and corporate BTC holdings now exceed 1.11 million coins, valued at over $117 billion. DonAlt suggests this could cause a bear market as intense as past cycles like the 2018 crash where Bitcoin plummeted from $20,000 to $3,000. He anticipates a potential drawdown of 70% to 80%, driven by the inevitable correction after the current bull cycle peaks. This increased risk is amplified because institutional investors have supported the market during the rally, but DonAlt cautions that similar entities could trigger a sharp reversal through mass selling or profit-taking once prices top out. DonAlt’s analysis suggests a move below the $101,000 level could trigger a swift correction to the $95,000 or potentially even $90,000 mark, an 11% drop from current prices. The analysis emphasizes the growing tension in the market: While institutional adoption has driven Bitcoin’s recent surge, these players might pose a significant risk during future downturns. The role of treasury holders will likely play a crucial factor in determining Bitcoin’s future bear cycles.