The cryptocurrency market has suffered a staggering $14 trillion loss in value over the past six weeks, leading to significant liquidity challenges for digital asset treasury (DAT) companies. Bitcoin's price approached $80,000, while Ethereum experienced a sharp decline of over 40%. MicroStrategy is at risk of being removed from the MSCI index, a move that could result in $116 billion in forced selling. Meanwhile, Bitmine has reported $3.6 billion in paper losses and has entered into a controversial 'toxic financing' arrangement. The collapse of the 'flywheel' model, previously a bullish market driver, has now contributed to a downward spiral amid deteriorating market conditions.