BlackRock maintains its bullish Bitcoin outlook despite $267.2 million in ETF outflows and a 50% pullback from record highs.
BlackRock described Bitcoin’s 50% decline from its $126,200 peak as a positioning correction rather than a shift in its investment case. The firm cited overleveraged markets and cascading liquidations driven by perpetual futures as key factors in the pullback, which pushed BTC below $60,000 by mid-2026.
Outflows from spot Bitcoin ETFs totaled $267.2 million in the week ending August 14, including $78.9 million from BlackRock’s iShares Bitcoin Trust (IBIT). The firm noted that open interest in Bitcoin derivatives surpassed $90 billion in October 2025, fueled by speculative leverage, which amplified the sell-off during a macro-driven risk-off event.
BlackRock expects Bitcoin’s correlation with broader risk assets to decline as market positioning stabilizes. The firm preserved its bullish thesis despite recent outflows, emphasizing structural demand drivers for digital assets.