BlackRock CEO Larry Fink told CNBC in a July 15, 2026 appearance that he is “very bullish” for the next 12 months, arguing that the decline in Bitcoin and cryptocurrencies was caused by overleverage, leading to increased stability.
His comments come after Bitcoin has fallen sharply from its October 2025 high of $126,000, with the price hovering around $60,000 at the time of reporting.
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The Bitcoin leverage washout that BlackRock Fink has been waiting for
Fink and BlackRock linked his bullish stance to the deleveraging associated with the leverage risks of Bitcoin and cryptocurrencies. “There were too many leveraged players. That’s why we had a washout and I think it’s more stable at this level…I’m very bullish on the market for the next 12 months.”
Did BlackRock CEO Larry Fink admit that they were manipulating the crypto market?
“Bitcoin and cryptocurrencies had too many leveraged players, so we needed to get rid of them.”
He also said he was very bullish on the market over the next 12 months.
Is the bottom on… pic.twitter.com/CrhYewXl22
— Alexander the Great (@AlexKostner10) July 17, 2026
Mechanics are important here. Once leveraged positions are unwound, forced selling can accelerate the decline and trigger further liquidations. The results may seem catastrophic from the outside, but they can also act like a risk reset. This means that positions built on excessive leverage are unwound, leaving a relatively stable state for the next phase.
For retail traders, this is a useful framework. Drawdowns caused by forced liquidations can be structurally different from drawdowns caused primarily by deteriorating fundamentals.
Fink made his bullish comments in the same context as BlackRock’s quarterly results. During the period, BlackRock reported revenue of $7.1 billion, up 31% year over year.
Adjusted operating margins rose to nearly 46%, and the company reported a record $15.3 trillion in assets under management.
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Bitcoin price level and next real target
BTC is trading at $62,935 on the daily chart, and the structure here shows that the market bottomed around $58,000 in mid-June and, although it has stabilized since then, is struggling to break out of the $64,000-$65,000 zone that has been the upper bound of all bounce attempts over the past few weeks.
The $63,000-$64,000 area marked by the red dotted line is acting as a persistent resistance from below, and the price continues to push into it, but is unable to close convincingly above it. This is the main problem with the current setup.
The pattern of highest declines since May’s peak of $84,000 is still in place, and until that changes, we will remain in a downtrending market looking for a downside, rather than a market that has confirmed a reversal.
A daily close holding above $65,000 is the first signal worth noting, paving the way for $68,000 and then $72,000 as the next resistance level from the June breakdown zone.
On the downside, the $58,000 to $60,000 range is the floor it needs to maintain, and that is where the most recent capitulation found buyers, below which BTC will be at a multi-year low with little support below.
A rebound from $58,000 is real but unconfirmed, and $65,000 is the level that separates a full-fledged recovery attempt from further low-highs in a market that has been consistently rising since January.
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Larry Fink points to using washouts as an example of a 12-month Bitcoin bull market This article was first published on 99Bitcoins.
