Bitcoin Price Drops to $113,000 Amid U.S.-China Trade Uncertainty

BlackRock CEO Larry Fink conceded his earlier characterization of Bitcoin as an 'asset of fear' was mistaken, as the firm's iShares Bitcoin Trust (IBIT) posted a new record. The admission and the IBIT milestone highlight growing institutional acceptance of BTC.

A U.S. banking policy shift that injected fresh liquidity into the system sparked renewed momentum for Bitcoin and other major digital assets. Traders reacted to easier funding conditions and a softer short-term rate tone from the Fed.

In a Bloomberg interview, SEC Chair Gary Gensler said Bitcoin is distinct from most other tokens and called the rest “highly speculative.” His remarks reinforce regulatory caution that could shape listings, custody and institutional interest.

An accumulator strategy warned it could draw on bitcoin reserves to preserve dividend payments if its share price falls toward net asset value. Such a sale would be rare and could add short-term selling pressure on BTC.

Michael Burry reiterated that Bitcoin's rally toward six-figure prices is a speculative bubble disconnected from measurable fundamentals, reviving debate over crypto valuation.