Wall Street brokerage Bernstein reports that Bitcoin's price weakness in 2026 is primarily due to slowing capital flows, not quantum computing threats. Bitcoin treasury companies and ETFs saw inflows of approximately $12 billion this year, a significant drop from $60 billion in 2025. Bitcoin ETFs, holding $75 billion in assets, experienced about $2.6 billion in net outflows, with new demand mainly from corporate buyers like MicroStrategy. Bernstein analysts attribute the slowdown to retail investors shifting focus to AI-related assets. Despite this, the crypto market's strongest performers have been tokenized equities and commodities. The investor base for Bitcoin has diversified, including ETFs, corporate treasuries, and sovereign investors, contributing to a healthier market structure. The long-term value-storage thesis for Bitcoin remains strong.