According to Charles Edwards, Bitcoin treasury companies have flipped back to net buying, signaling a positive shift in recent corporate flows toward BTC. Edwards stated the indicator tracks the 30‑day rate of change in the Buy-Sell Ratio, defined as cumulative USD buying versus selling by treasury companies. According to Edwards, the flip to net buying means aggregate USD purchases by treasury companies exceeded sales over the latest 30‑day period. Edwards presented this metric as a 30‑day flow gauge for treasury demand for BTC.

According to the source, Brazilian Bitcoin treasury vehicle OranjeBTC opted to repurchase its own shares instead of buying additional BTC, indicating a near-term reallocation of capital away from spot Bitcoin accumulation, source: X post dated Oct 31, 2025. For traders tracking corporate treasury flows into BTC, this means an anticipated incremental spot buy from OranjeBTC will not materialize in the near term, affecting expected Bitcoin demand cues, source: X post dated Oct 31, 2025.