Bitcoin Investor Spots a Rare Opportunity, Saying that ‘Every Time IGV Sells Off, BTC Sells Off with It’

FomoAnxiety · 2026-02-24T15:51:34+00:00

Bitcoin is currently mimicking tech stocks rather than acting as digital gold, with recent drops linked to ETF market behavior. Investor Eric Jackson suggests that this market cleansing will lead to stronger, long-term investment strategies. For recovery, he points to the need for stablecoin growth and a halt in tech sell-offs.

FomoAnxiety

2026-02-24 15:51:34

Abstract generation in progress

Bitcoin (BTC-USD) is having a hard time deciding what it wants to be. Instead of acting like digital gold, it has spent the last few months moving just like a risky tech stock. As of today, the price has dropped below $63,000, its lowest point in weeks. However, investor Eric Jackson says this drop is a way of cleaning out the market.

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ETFs Change Bitcoin Ownership

The problem started because Bitcoin became too successful as an ETF. The creation of easy access for Wall Street via the iShares Bitcoin Trust IBIT -1.04% ▼ changed who owns the coins. Right now, Bitcoin moves exactly like the iShares Tech-Software ETF IGV +1.87% ▲ .

“From $126K to $63K. Every time IGV sells off, BTC sells off with it. That’s not a store of value. That’s a high-beta tech position with a different logo.”

This means that instead of holding tight, new ETF investors are treating Bitcoin like a software stock. They sell it the moment the tech market gets shaky. This has caused over $200 million to leave Bitcoin ETFs in just the last 24 hours.

Market Cycles Filter Out Weak Hands

Jackson says that every Bitcoin cycle follows a pattern of removing people who aren’t ready for the long haul. In 2017, regular people sold at the top. In 2021, hedge funds were the ones who left. In 2026, it is the ETF investors who are panicking.

He believes this selling is necessary to make room for capital that stays put for years. The people selling now will eventually be replaced by groups that do not care about daily price changes.

“What comes next? Sovereign wealth funds. Corporate treasuries. Pension capital. Money that doesn’t rebalance into quarters… Money that holds for decades, not cycles.”

Stablecoins and Sovereigns Impact the Recovery

For the price to go back up, Jackson is looking for two specific things. First, the sell-off in software stocks needs to end. Second, the amount of stablecoins on exchanges needs to grow. Stablecoins are like dry powder that investors use to buy more Bitcoin when they feel confident.

While Bitcoin is currently falling behind gold, which just hit a new all-time high, this filter suggests that once the nervous institutional hands are gone, the asset can finally act like a true store of value again.

At the time of writing, Bitcoin is sitting at $63,794.

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