{"id":18188,"date":"2025-03-20T05:02:09","date_gmt":"2025-03-20T05:02:09","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18188"},"modified":"2025-03-20T05:02:09","modified_gmt":"2025-03-20T05:02:09","slug":"bitcoin-price-still-ignores-wall-street-demand-blackrock-exec-warns","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18188","title":{"rendered":"Bitcoin Price Still Ignores Wall Street Demand, BlackRock Exec Warns"},"content":{"rendered":"
\n

In an interview with Yahoo Finance, Robbie Mitchnick\u2014Global Head of Digital Assets at BlackRock\u2014addressed Bitcoin\u2019s recent stagnation and shared why he believes institutional demand may be stronger than its price implies. Despite significant hopes pinned on regulatory developments and a \u201ccrypto-friendly\u201d turn at the White House, Bitcoin has spent the early months of 2025 hovering around the mid-$80,000 range, prompting questions about what catalysts might drive the next price rally.<\/p>\n

Is Bitcoin Undervalued?<\/h2>\n

Mitchnick acknowledged that Bitcoin started showing considerable strength toward the end of 2024. \u201cBitcoin is still up, let\u2019s call it 15% or so since the beginning of November,\u201d he noted. This rally, he explained, was fueled by a combination of institutional interest and optimism surrounding potential government endorsement by the Trump administration.<\/p>\n

However, he cautioned that \u201caccelerated, perhaps premature expectations of just how quickly some of these catalysts would start to arrive\u201d might have contributed to the market\u2019s more recent price stagnation. According to Mitchnick, many investors and traders anticipated an immediate spike following the White House\u2019s pro-crypto moves<\/a>. When those gains failed to materialize, some short-term participants began unwinding positions, contributing to downward pressure on Bitcoin\u2019s price.<\/p>\n

BlackRock made headlines with its Bitcoin exchange-traded funds, widely recognized for bringing a new wave of institutional exposure to the crypto market. Even so, Mitchnick revealed that inflows have softened: \u201c2024 was pretty incredible, pretty historic on that front. 2025 to start has been more negative. We\u2019ve seen some outflows in the category\u2014relatively modest in the context of the overall asset base, which is close to $100 billion.\u201d<\/p>\n

He attributed this downturn mostly to hedge funds unwinding a spot\u2013futures arbitrage trade that had \u201cdouble-digit\u201d yields in 2024 but has since dipped into the single digits. Mitchnick underscored that these outflows are mainly from short-term traders, rather than the more traditional \u201cbuy-and-hold\u201d investor base.<\/p>\n

A central question raised in the interview was why Bitcoin has not acted as a safe haven\u2014similar to gold\u2014despite persistent economic uncertainty. While gold has rallied on investor concerns about the economy, Bitcoin has not mirrored that trajectory. Mitchnick suggested that this discrepancy stems from market psychology and what he called \u201cshort-term correlation spikes.\u201d<\/p>\n

\u201cBitcoin fundamentally on a long-term basis \u2026 should be uncorrelated or even inversely correlated against certain risk factors \u2026 But now it\u2019s been extrapolated to things that don\u2019t really make any sense at all\u2014tariffs, economic fears\u2014and the market\u2019s commentary doesn\u2019t reflect what Bitcoin fundamentally is,\u201d Mitchnick said.<\/p>\n

He went on to emphasize Bitcoin\u2019s unique attributes\u2014its scarcity, decentralized nature, and existence \u201coutside of any one country\u2019s economic, political, or monetary system.\u201d Over the long term, Mitchnick sees these properties as justifying Bitcoin\u2019s \u201cdigital gold<\/a>\u201d comparison, but concedes that investor behavior often treats it as a high-volatility, \u201crisk-on\u201d asset in the short run.<\/p>\n

When asked about the US government\u2019s stance\u2014particularly in light of a Trump administration authorization for a strategic Bitcoin reserve\u2014Mitchnick was cautious, noting that \u201ca lot still [remains] to be determined on that front.\u201d He emphasized that: \u201cWhat we have clearly seen is a pretty emphatic signal of support and conviction in this industry and particularly in Bitcoin and Bitcoin\u2019s uniqueness \u2026 Whether and on what timeline \u2026 that might be funded, there\u2019s a few different sources \u2026 but it\u2019s certainly not the only source of adoption catalyst in 2025.\u201d<\/p>\n

Although speculation is building around whether the government will officially begin stockpiling Bitcoin<\/a>, Mitchnick stressed that the broader institutional and wealth advisory community continues accumulating positions. These investors, in his view, remain \u201cvery excited\u201d by current market conditions despite the recent downturn.<\/p>\n

Mitchnick also addressed recent headwinds, including the ByBit hack<\/a> that briefly dampened market sentiment. He suggested that heightened volatility can shake short-term traders out of the market, but longer-term, more sophisticated holders often see price dips as buying opportunities. According to Mitchnick: \u201cSome of them were taking chips off the table a little bit in the [$100,000] range \u2026 Now they see this correction and a lot of them view it as sort of an irrational selloff \u2026 We\u2019re trying to bring some quantitative rigor to that as well.\u201d<\/p>\n

At press time, BTC traded at $84,197.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

In an interview with Yahoo Finance, Robbie Mitchnick\u2014Global Head of Digital Assets at BlackRock\u2014addressed Bitcoin\u2019s recent stagnation and shared why he believes institutional demand may be stronger than its price implies. Despite significant hopes pinned on regulatory developments and a \u201ccrypto-friendly\u201d turn at the White House, Bitcoin has spent the early months of 2025 hovering […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":1,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18188","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18188"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18188\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}