Nine days ago, we reported that Bing started shifting their organic traffic to referral traffic.
At first we said it looked like Bing updated their search algorithms but after careful review, the analytics tools showed an increase in the referral traffic. So I suspected back then it was related to the Bing HTTPS migration and it turns out I was right.
Bing told me "our move to encrypt search by default - and which is currently ongoing - combined with how search traffic is being identified has likely contributed to the issue becoming more noticeable in recent weeks."
I followed up with Bing asking if this is going to be the case. Even when Google went HTTPS and we got [not provided], Google still reported organic search traffic as such, they just stole away our keyword data. Bing is actually taking it one step further and hiding that the traffic came from organic search in general.
I hope this is just a bug and not how Bing plans on implementing this change.
Forum discussion at WebmasterWorld.