Bitcoin's $100,000 high feels distant as institutional interest fades
Bitcoin soared past $100,000 this year, but the excitement is waning as major institutional players step away.
BlackRock's IBIT ETF, which helped fuel Bitcoin's record run to $123,015 in July, now sees less action—making it harder for Bitcoin to hold its ground.
Institutions hold over 4.5% of all Bitcoin
Institutional investors—think big companies and funds—own over 4.5% of all Bitcoin and have been key to its rise as a legitimate investment.
Their recent pullback is shaking confidence in Bitcoin's stability and future growth.
Demand for Bitcoin is starting to feel fragile
After nearly $7 billion flowed into Bitcoin ETFs earlier this year, outflows are picking up, and returns have lagged behind gold and tech stocks.
Even with new rules letting 401(k) plans invest in crypto, cautious strategies and investor fatigue are making demand for Bitcoin feel fragile right now.