Why Bitcoin ETFs Keep Buying — But Price Isn’t Moving
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If institutions keep buying Bitcoin through ETFs, why isn’t price exploding?
Bloomberg’s Eric Balchunas suggests the answer lies in market maturity. Bitcoin is increasingly behaving like a seasoned asset class, where early holders take profits, sell covered calls, and rebalance — rather than chase nonstop upside.
After a 120% rally last year, expectations reset. Add in ETF outflows from funds like Fidelity and continued selling pressure in Ether products, and the market starts to look less euphoric and more rotational.
BlackRock isn’t worried. Executives say IBIT remains one of the firm’s biggest revenue drivers — and that inflows, outflows, and consolidation are simply how large capital allocators operate.
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Weird Blackrock etc. did not just make their own crypto. Expensive to buy all the BTC.
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Institutional buying doesn’t mean straight up—this is distribution.
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Mature markets rotate before they run again.