Bitcoin slips to $64K. BlackRock says the mood has already turned.
The asset manager says bitcoin’s break from equities strengthens its case as a portfolio diversifier, even after a bruising year.
What happened
Bitcoin traded near $64,000 as BlackRock digital-assets chief Robert Mitchnick argued that its recent break from equities supports the diversification case. U.S. spot bitcoin ETFs had just recorded five consecutive inflow sessions totalling $853.5 million.
Why it matters
Five straight ETF inflow sessions suggest institutions may be testing the waters before price momentum returns.
Watch next
Whether ETF inflows hold for another week—and whether bitcoin’s correlation with equities continues to fall.