GME Stock Up 6% After Ryan Cohen Buys; GameStop’s BTC Faces $76M Loss

Bitcoin traded near $89,098 as of writing, down about 6.4% over the past seven days, as market momentum remained soft and institutional flows stayed mixed. During the downturn, on-chain data flagged a major move from GameStop, which deposited its full Bitcoin holdings into Coinbase Prime, a platform used by institutions for custody and execution.

The transfer has drawn attention because Coinbase Prime often serves as a staging point for large sales. While the company has not confirmed a sale, analysts described the timing as consistent with a potential exit from its Bitcoin position.

GameStop’s 4,710 BTC Transfer Points to Possible Selloff

GameStop accumulated 4,710 BTC between May 14 and May 23, 2025, spending about $504 million at an average price of $107,900 per coin, according to the on-chain analytics platform CryptoQuant. With Bitcoin now trading closer to the $90,000 area, a full liquidation at those levels would imply meaningful realized losses.

CryptoQuant estimated that selling near $90,800 would lock in roughly $76 million in losses based on the difference between the purchase average and current market pricing. Observers also noted that the Bitcoin balance stayed untouched for months before the abrupt outflow in January 2026, strengthening the view that the move was planned rather than routine.

The shift adds to the debate over corporate Bitcoin strategies, especially among firms that bought during peak market conditions and now face pressure as prices remain below prior highs.

Coinbase Prime Deposit Arrives as Market Signals Turn Cautious

Bitcoin has struggled to regain bullish momentum, with indicators pointing to rising sell-side activity. Data from CoinGlass showed centralized exchanges posted a net inflow of 5,026 BTC over the past 24 hours and 9,891 BTC over the past seven days. Traders often read exchange inflows as a sign that holders may prepare to sell.

At the same time, US spot Bitcoin ETFs recorded net outflows of over $1.22 billion over the past three days. Analysts linked weaker ETF demand to macro uncertainty tied to President Donald Trump’s renewed tariff threats, which have increased risk-off positioning in broader markets.

Source: Coinglass

Ryan Cohen Buys Again as GME Gains 6%

While GameStop’s Bitcoin activity raised concerns, the company’s stock moved in the opposite direction. GameStop shares traded around $23.14 after rising roughly 6.7% in the last session.

The rally followed two consecutive days of insider buying by CEO Ryan Cohen. SEC filings showed Cohen bought 500,000 shares on January 21 at an average price of $21.60 per share, after purchasing another 500,000 shares a day earlier. The purchases boosted Cohen’s holdings to about 42.1 million shares, representing roughly 9.3% of GameStop’s outstanding stock.

Source: X

Board Director Alain Attal also purchased 12,000 shares at $21.63, totaling nearly $260,000. The combined insider activity helped reinforce market attention on GameStop’s equity story, even as its crypto strategy faced fresh scrutiny.

Technical Traders Watch a Breakout Zone for GME

Technical analysts have highlighted a key resistance area near $22, describing a break and hold above that zone as an important signal for trend continuation. Some traders have also pointed to the possibility of increased short covering if price strength continues, especially given GameStop’s history of high retail participation and elevated volatility.

For now, the stock and crypto narratives have split sharply. GameStop’s shares have gained momentum following insider buys, while its Bitcoin holdings appear positioned for a potential exit at a loss. Traders will be watching closely for confirmation of whether the Coinbase Prime deposit turns into an actual sale, and whether GME’s upside move holds in the sessions ahead.