BlackRock’s Bitcoin ETF (IBIT) recently experienced a record outflow of $2.2 billion, highlighting concerns in the market. Despite this significant withdrawal, renowned analyst Eric Balchunas remains bullish. He suggests that the recent outflows are not surprising given the fund has never seen such a large exodus before and highlight a disconnect between market sentiment and investor behavior. He points out that the majority of IBIT investors remained invested, indicating strong faith in Bitcoin’s long-term potential. Balchunas further analyzed the sudden decline in short interest associated with IBIT, suggesting a cooling down of speculative trades rather than a deeper structural concern. He emphasized Bitcoin’s track record of bouncing back from sharp declines, noting that historical data points towards sustained growth despite volatility. Meanwhile, recent market trends show that investors are actively exiting BlackRock’s Bitcoin ETF (IBIT), with the fund experiencing its highest weekly outflow since launch. This has impacted the price of Bitcoin, leading to a slight dip before regaining strength.