Bitcoin’s decline below $60,000 reflects liquidations and outflows but does not alter BlackRock’s bullish long-term outlook.
Bitcoin fell over 50% from its October 2025 high, dropping below $60,000 in June 2026, driven by deleveraging and reduced capital flows. Open interest in crypto futures had surpassed $90 billion, with 80% from perpetual futures outside CME, before tariff shocks triggered liquidations.
Spot Bitcoin ETPs saw $60 billion in inflows from January 2024 to October 2025 but recorded $5 billion in net outflows afterward. AI-focused funds attracted $46 billion over the same period, highlighting shifting investor preferences. Selling by digital asset treasuries and large holders added pressure.
BlackRock continues to advocate for a small Bitcoin allocation as a portfolio diversifier and hedge against fiat currency depreciation.