Institutional buy the dip signals are pumping: JPMorgan and BlackRock are quietly accumulating Bitcoin.

Recently, on-chain data has released a signal - large institutions are continuously increasing the position.

According to the latest position data, JPMorgan increased its holdings in the iShares Bitcoin Trust (IBIT) from 320 million shares to 528.4 million shares in the third quarter, a quarterly increase of 64%, corresponding to a value surge from $302.6 million to $343 million. During the same period, BlackRock's iShares Bitcoin Trust has accumulated nearly 800,000 BTC. This is not a simple asset adjustment; it is an organized and rhythmic large-scale acquisition.

Why IBIT instead of holding coins directly?

For large asset management institutions, directly managing BTC means dealing with a host of troubles such as private key security, audit compliance, and cold wallet management. IBIT offers a more elegant solution—zero-threshold compliant exposure. With the click of a button, you can gain exposure to spot BTC, with built-in liquidity within the risk control framework, and extremely low tracking error.

More importantly, the investment rhythm of these institutions is programmatic. They do not chase highs or bottom fish—data shows that JPMorgan continued to increase the position even when BTC dropped to over 102,000 dollars. This is a typical “dollar-cost averaging” strategy used to smooth out the cost curve.

What does institutional bottom-fishing mean?

When disciplined capital continues to buy during a down period, the market's support level will be significantly raised. This is not the emotional operation of retail investors—this is capital that is budgeted, cyclic, and acting with a long-term bullish outlook.

JPMorgan even provided a 12-month target price: $170,000. The pricing logic behind this considers:

• Mining efficiency improvement (production costs decrease after halving)
• The liquidity of the ETF spot track continues to deepen.
• The allocation ratio of institutions still has room for growth.

As the proportion of ETF shares increases, the predictability of market liquidity becomes stronger. The creation/redemption cycle will synchronize with the risk management rhythm of institutions, which in turn stabilizes the price floor.

Current Situation

The continuous net inflow of institutional ETFs, combined with the accumulation signals from on-chain data, paints a relatively clear picture: large funds are paving the way for the next wave of market trends. Volatility will still exist, but the support level is being continuously reinforced.

In other words - the current price level is still “an acceptable cost” for institutions with a long-term layout.