Robbie Mitchnick, Global Head of Digital Assets at BlackRock (NASDAQ:BLK), said a potential U.S. recession could act as a powerful driver for Bitcoin‘s (CRYPTO: BTC) next bull cycle, citing liquidity injections and fiscal responses as key catalysts.
What Happened: Speaking with Yahoo Finance on Wednesday, Mitchnick explained that while Bitcoin has historically been perceived as “digital gold,” recent price action has fallen short of this reputation.
Despite some optimism following policy shifts in Washington, Bitcoin’s performance has been subdued, currently hovering near $83,550 after giving back its late-2024 rally gains.
“The crypto market may have gotten ahead of itself with expectations about how fast deregulation and other catalysts would arrive,” Mitchnick said.
He noted that while Bitcoin rose sharply into the end of 2024, the early part of 2025 has …
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