Treasury demand is when $BTC stops looking like a trade and starts acting like reserve strategy This dashboard puts crypto treasuries at $142B, spread across 244 entities in 37 countries and 27 tracked assets, with a BTC : ETH : Others mix of 18 : 2 : 1. That tells you the balance-sheet bid is still heavily Bitcoin-led Why it matters for buyers: treasury capital is usually slower, more deliberate, and less emotional than retail flow. XFinanceBull Academy studies this to spot where conviction is becoming policy When institutions store value in crypto, the market is maturing in plain sight #XFB #Macro Insights# #Altcoin Season#