October saw a significant drop in Bitcoin acquisitions by BTC-hoarding companies, hitting the lowest volume this year. According to DL News, these companies collectively purchased around 14,400 BTC, valued at approximately $1.4 billion USD. This marks a 63% decrease from September's 38,035 BTC. The mNAV (market capitalization relative to BTC holdings value) of leading Bitcoin-holding companies like MicroStrategy and MetaPlanet has also declined. It fell from 1.8x in May to 1.1x in October, essentially erasing any premium effect. This indicates a notable weakening of investor sentiment towards these companies. Experts attribute this decline to a confluence of factors. These include corporate earnings pressure, heightened macroeconomic uncertainty, and increased volatility in Bitcoin's price. The risk associated with holding large amounts of Bitcoin may outweigh the potential gains for some investors, contributing to the reduced buying activity. Furthermore, alternative investment opportunities with potentially higher yields might be diverting capital away from Bitcoin. ```