On July 15, 2026, BlackRock CEO Larry Fink told CNBC he is "very bullish" on Bitcoin for the next 12 months. His reasoning: the brutal drawdown from October 2025's all-time high of $126,000 was not a fundamental collapse but a forced deleveraging event, and that distinction matters a lot.

"There were too many use players in it," Fink said. "That's why we had the washout, and I think there's more stability at these levels here." Bitcoin was trading near $60,000 at the time of his appearance, roughly half its peak from eight months prior.

The mechanics behind his argument are straightforward. When leveraged positions unwind under pressure, forced selling accelerates the drop and triggers cascading liquidations. From the outside it looks catastrophic. But once the use is cleared, what's left is a cleaner base, positions held by investors who aren't one bad candle away from a margin call. For retail traders watching the carnage, that distinction between a liquidation-driven crash and a fundamentals-driven one is worth keeping in mind. Bitcoin ETF inflows have already started recovering, which fits the stabilization narrative Fink is pointing to.

Fink's comments came alongside BlackRock's quarterly earnings. The firm posted revenues of $7.1 billion, up 31% year-over-year, with adjusted operating margin climbing to nearly 46% and assets under management hitting a record $15.3 trillion. The bullish Bitcoin call was not a casual aside from a struggling firm.

Where BTC actually stands right now

BTC was sitting at $62,935 on the daily chart as of the report. The market bottomed around $58,000 in mid-June and has been grinding sideways since, but the $64,000 to $65,000 zone has capped every bounce attempt for weeks. Price keeps pushing into that resistance and failing to close above it convincingly.

The pattern of lower highs dating back to the May peak at $84,000 is still intact. Until that changes, this is technically a downtrend looking for a floor, not a confirmed reversal. Analysts tracking Bitcoin's longer-term trajectory against gold's $27.9 trillion market cap see the current range as noise inside a much bigger structural story, which aligns with the 12-month window Fink is focused on rather than the next few weeks.

This article is for informational purposes only and does not constitute financial advice. Crypto markets are volatile; always do your own research before making investment decisions.