Bitcoin drops to $64K, but BlackRock sees two signals: IBIT holders aren’t selling, and BTC is starting to decouple from AI! BlackRock’s Head of Digital Assets: Over the past two and a half years, they’ve observed that Bitcoin ETF investors tend to lean toward long-term, fundamentals-driven, buy-and-hold strategies. Even though many bought in around $100K or even $110K and are now sitting on significant unrealized losses, this investor structure hasn’t shown any major changes during this downturn. Last week, U.S. spot Bitcoin ETFs saw net inflows for five consecutive trading days, totaling approximately $853 million. Of that, BlackRock’s IBIT alone absorbed about $694 million, accounting for over 80% of the total inflows. BTC has dropped nearly half from its all-time high, but this group of ETF investors hasn’t shown the typical retail-style panic sell-off—at least not yet. Bitcoin is decoupling from AI stocks. Earlier this year, while AI surged, BTC was trading sideways or even declining, which was a disadvantage for BTC. But by July, as the AI sector saw a significant pullback, Bitcoin clearly outperformed. This shift is crucial for Bitcoin’s long-term investment narrative. If BTC always rises and falls alongside high-beta tech stocks, it’s hard to prove its independent value within traditional investment portfolios. Now, as it starts to chart a different path when tech stocks are under pressure, BlackRock’s vision of asset diversification + tail risk hedging is finally beginning to take shape.