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What happened:<\/strong> Bitcoin dropped roughly 2% on Wednesday to hover near $75,500 per token.<\/p>\n What\u2019s behind the move:<\/strong> Bitcoin has decoupled from the tech sector as a rally in semiconductors pushed the Nasdaq Composite (IXIC<\/a>) to record highs. Instead, the token has fallen about 7% over the past two weeks after climbing above $81,000.<\/p>\n Investors have been digesting digital asset treasury Strategy\u2019s (MSTR<\/a>) pause on bitcoin purchases last week, signaling the company may be prioritizing debt reduction.<\/p>\n Wall Street has closely tied bitcoin\u2019s performance to Strategy\u2019s buying activity, with Bernstein analysts earlier this year describing the company<\/a> as the \u201cBitcoin central bank of last resort.\u201d<\/p>\n What else you need to know: <\/strong>A massive $1.3 billion trade involving BlackRock\u2019s iShares Bitcoin Trust ETF (IBIT<\/a>) took place Tuesday morning, making it one of the largest off-exchange bitcoin ETF transactions since the funds launched more than a year ago.<\/p>\n The trade came as US spot bitcoin ETFs continued to see investor outflows.<\/p>\n Fundstrat head of digital assets Sean Farrell noted recent market signals suggest bitcoin could face more turbulence in the near term.<\/p>\n \u201cOn net, this type of price action basically suggests a couple of choppy weeks ahead,\u201d Farrell said on Tuesday night.<\/p>\n Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at <\/em>@ines_ferre<\/em><\/a>.<\/em><\/p>\n Click here for in-depth analysis of the latest stock market news and events moving stock prices<\/strong><\/a><\/p>\n Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/p><\/div>\n