Crypto
Home›Crypto›Market Structure›BlackRock says bitcoin’s pullback looks like a positio…
BlackRock says bitcoin’s pullback looks like a positioning correction
BlackRock cited net outflows of $78.9 million from its iShares Bitcoin Trust IBIT and $267.2 million across spot Bitcoin ETF products in the week through Aug. 14.
Bitcoin’s more than 50% decline from its $126,200 all time high is a “positioning correction,” according to a BlackRock report cited by Cointelegraph. BlackRock said the market had become historically overleveraged, with perpetual futures contributing to cascading liquidations, alongside slowing ETP outflows and digital asset treasury demand.
Cointelegraph reported that BlackRock framed the drop in the context of recent spot Bitcoin ETF flows. The iShares Bitcoin Trust IBIT recorded net outflows of $78.9 million in the week through Aug. 14, while outflows totaled $267.2 million across all ETF products.
BlackRock pointed to derivatives dynamics, saying open interest on Bitcoin derivatives markets passed $90 billion in early October as speculative positioning increased. It also said the unwinding of these positions raised the correlation between BTC/USD and broader risk assets.
The report linked earlier price weakness to a macro risk off catalyst, including China tariff headlines, which it said triggered large scale deleveraging across precious metals and crypto markets. It described liquidation waves that pushed prices to cycle lows below $60,000 per bitcoin by June 2026, while noting that institutional Bitcoin demand has faced headwinds this year from geopolitical uncertainty and rising inflation pressures.
Latest closeBitcoin $64,438.65 ▼0.4%