BlackRock CEO Larry Fink bullish on Bitcoin stability as SEC expands options for its ETF

BlackRock chief executive Larry Fink told CNBC that Bitcoin now appears "more stable at these levels" and that he is "very bullish" on the broader crypto market for the next 12 months. His comments follow a market shake‑out that removed many leveraged positions, reducing what he earlier described as excessive leverage in the Bitcoin space.

The U.S. Securities and Exchange Commission has approved an increase in the position and exercise limits for options on BlackRock’s iShares Bitcoin Trust (ticker IBIT) on NYSE Arca, raising the cap from 250,000 contracts to one million. The change is intended to accommodate higher trading volumes and improve liquidity for institutional market makers.

Other market observers note technical signs that could signal a turnaround. Analyst Peter Brandt highlighted an unconventional "inverted head and shoulders" pattern, while New York Digital Investment Group projects a possible cycle low for Bitcoin around $38,000‑$39,000 later this year after a drawdown of roughly 50% from its recent peak. Bitcoin has rebounded about 12% from a low near $58,000, supported by a bullish RSI divergence, but faces resistance near $65,000.