BlackRock CEO Larry Fink told CNBC on July 15 that he is “very bullish” for the next 12 months, pinning the recent crypto selloff on a washout of excessive leverage rather than any structural damage.
Fink’s remarks, which also described Bitcoin as having “more stability” at current levels, arrived during a week when the digital asset swung sharply on geopolitical headlines. Bitcoin surged to just under $66,000 after President Trump claimed a US-brokered peace deal with Iran, then dropped over 2% to roughly $62,000 following Iranian missile strikes on US bases.
The BlackRock chief’s framing matters because it shifts the narrative from a crisis of confidence to a healthy deleveraging. By arguing that the purge of over-leveraged positions has left the market on firmer footing, Fink offered institutional cover for a view that the worst of the forced selling may be over.
Separately, the Commodity Futures Trading Commission stepped into a legal fight in Michigan, using emergency powers to block prediction market Kalshi from liquidating sports event contracts that a state court had ordered cancelled and refunded. The intervention keeps those contracts alive and sets up a direct clash between a federal regulator and a state court over who controls event-based derivatives.