Bitcoin Tests $65,000: Will BlackRock and Citi Fuel the Next Rally?

Bitcoin (BTC) pushed against $65,000 on Tuesday. At the same moment, two Wall Street giants deepened their commitment. BlackRock repeated its call for a 1-2% portfolio allocation, and Citi confirmed its Bitcoin custody service will arrive this year.

The timing is striking. Bitcoin still sits about 50% below its October 2025 peak, yet the firms building institutional access keep expanding.

BlackRock Sticks With Its 1-2% Bitcoin Allocation

BlackRock re-examined Bitcoin in a note published Monday. Digital asset executives Robert Mitchnick and Will Su wrote it after the market's steep slide. Their verdict? The selloff came from forced selling inside crypto markets, not a weaker long-term case.

The refreshed 10-year analysis matched guidance from June. Back then, the firm first told institutions exactly how much Bitcoin to hold.

A 1-2% slice, funded from stocks, would have improved risk-adjusted returns in a classic 60/40 portfolio.

The authors also pointed to Bitcoin's low long-term link with stocks and bonds. Periods when it trades in lockstep with equities tend to fade, they argued.

The stance matters because of BlackRock's scale. It is the world's largest asset manager. Its iShares Bitcoin Trust (IBIT) held over $47 billion in assets by March 2026.