GameStop’s movement suggests a potential BTC selloff with massive realized losses, and less than three days after its CEO purchased 500,000 shares.
GameStop, the world’s largest video game retailer, is seeing huge losses on its Bitcoin BTC $68 636 24h volatility: 3.6% Market cap: $1.37 T Vol. 24h: $52.39 B holdings as the leading asset struggles below $90,000.
In May 2025, GameStop accumulated 4,710 BTC for roughly $504 million, with an average price of $107,900, according to the on-chain analysis platform CryptoQuant.
GameStop throws in the towel?
Their on-chain wallets just moved all BTC holdings to Coinbase Prime, likely to sell.
Between May 14–23, 2025, they bought 4,710 BTC at an avg. price of $107.9K, investing ~$504M.
Now selling for around $90.8K, potentially realising approximately… pic.twitter.com/Bp7MwRVQ43
— CryptoQuant.com (@cryptoquant_com) January 23, 2026
The popular video game retailer recently deposited its BTC holdings into Coinbase Prime, an institutional-grade brokerage platform. CryptoQuant wrote that selling the assets now would cost $76 million in realized losses for GameStop.
According to a MarketBeat report, Ryan Cohen, CEO of GameStop, purchased 500,000 shares of the firm’s stock at $21.12. The GME stock is trading at $23.14 at the time of writing.
Coinspeaker reported that GameStop’s Bitcoin holdings reached a total of $528.6 million by the end of Q2 2025 as the BTC price consistently traded close to $120,000.
Currently, Bitcoin is trading at $89,400, recording a 6.4% decline over the past seven days. Its trading volume has also plunged by 32% to $35 billion, signaling a cautious approach from traders.
CEX Inflows and ETF Outflows
Bitcoin has been struggling to gain bullish momentum due to less institutional interest and increasing inflows into centralized crypto exchanges.
Leading CEXs recorded a net inflow of 5,026 BTC over the past 24 hours, also reaching 9,891 BTC in the last seven days, according to data from CoinGlass.
Dominating inflows into CEXs usually hint at a selloff and increased fear among the investors.
Moreover, the US-based spot BTC exchange-traded funds registered a net outflow of $1.22 billion over the past three days, according to SoSoValue data.
This negative momentum is primarily due to the macro uncertainty from the US, as President Donald Trump has been threatening EU countries with increased tariffs.
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