Bitcoin Price to $500K or $1M? Larry Fink Says ‘Very Bullish’ as BlackRock Clients Buy $139M BTC

BlackRock CEO Larry Fink said he is 'very bullish' on Bitcoin, according to a DL News report dated July 16, 2026, which also noted that BlackRock clients bought $139 million in BTC. The same report said Bitcoin was holding near $77,000 ahead of Jerome Powell's final press conference as Federal Reserve chair, with traders' risk appetite returning. US spot Bitcoin ETFs drew over $2 billion in net inflows in April, a second straight positive month after March's $1.3 billion gain, per DefiLlama data cited by DL News. Bitcoin had rallied nearly 15% over the past month but remained down nearly 40% from its October peak, the report said.

Background

DL News reported that Bitcoin was holding firm near $77,000 ahead of Powell's last press conference as Fed chair, and that traders' risk appetite was back. Split Research founder Zaheer Ebtikar said in a note shared with DL News that 'the sellers who were spooked by macro shifts or quantum fears have already exited' and that 'Bitcoin has found a stable floor and moved away from headline-driven drama and toward a more mature phase of growth.' The report said Bitcoin had rallied nearly 15% over the past month, while the overall cryptocurrency industry added about $400 billion in value since February, per CoinGecko data. It noted Bitcoin was still down nearly 40% from its October peak despite the S&P 500 hitting a new record in April, with gold and oil also near their peaks. On ETFs, the report said US spot Bitcoin ETFs drew over $2 billion in net inflows in April, a second month in a row of positive inflows, adding to March's $1.3 billion gain, according to DefiLlama. Ebtikar said that 'since we're currently in a quieter trading range, there's no immediate rush for the exits.' The report also described Powell's expected final FOMC meeting, with rates expected unchanged, and the pending confirmation of Kevin Warsh as his successor.

What happened

According to DL News, the headline development was Larry Fink's 'very bullish' comment on Bitcoin and $139 million in BTC purchases by BlackRock clients, reported on July 16, 2026. The same report framed the market backdrop: Bitcoin was holding near $77,000 ahead of Jerome Powell's final press conference as Federal Reserve chair. DL News cited Split Research founder Zaheer Ebtikar saying risk appetite was back and that sellers spooked by macro shifts or quantum fears had already exited. The report said Bitcoin had rallied nearly 15% over the past month and the overall crypto industry added about $400 billion in value since February, per CoinGecko, though Bitcoin remained down nearly 40% from its October peak even as the S&P 500 hit a new record in April and gold and oil sat near their peaks. On flows, DL News reported US spot Bitcoin ETFs drew over $2 billion in net inflows in April, a second straight positive month after March's $1.3 billion gain, per DefiLlama. The report said Powell was expected to keep rates unchanged at what economist Ed Yardeni called his 'swan song,' with Yardeni warning Powell would likely stress increased inflation risks, especially with Brent crude back above $100 per barrel as US-Iran peace talks stalled. DL News noted Powell's term as chair ends May 15 but he retains a governor's seat through January 2028, and that the Senate Banking Committee was set to confirm Kevin Warsh as successor on Wednesday, with a final vote potentially soon after. The report said Warsh has publicly called for lower rates sooner while promising independence, and that President Donald Trump has repeatedly pushed for faster cuts and clashed with Powell over policy and the Fed's renovation project, which triggered a Justice Department probe later dropped. Yardeni was quoted saying: 'At 2:30 p.m. [ET], Jerome Powell will sing his swan song.'

Market impact

DL News reported Bitcoin up 0.5% over the past 24 hours at $77,031, and Ethereum up 2.1% over the past few hours at $2,323. The report said Bitcoin had rallied nearly 15% over the past month, while the overall cryptocurrency industry added about $400 billion in value since February, per CoinGecko data. It noted Bitcoin was still down nearly 40% from its October peak despite the S&P 500 hitting a new record in April, with gold and oil also near their peaks. On ETF flows, DL News reported US spot Bitcoin ETFs drew over $2 billion in net inflows in April, a second month in a row of positive inflows, adding to March's $1.3 billion gain, according to DefiLlama. The report also cited the $139 million in BTC purchases by BlackRock clients and Fink's 'very bullish' comment. On macro, DL News said Powell was expected to keep rates unchanged, and Yardeni wrote that Powell would likely stress increased inflation risks, especially with Brent crude climbing back above $100 per barrel as US-Iran peace talks stalled. The report noted higher oil prices complicate any immediate case for rate cuts, and that lower rates are good for risky assets like Bitcoin because they disincentivise investors to hold bonds by paying out less yield.

Why it matters

DL News reported that the signs of life unfold against a pivotal moment in Washington, with Powell expected to keep rates unchanged at his final press conference and Kevin Warsh set to be confirmed as his successor. The report said Warsh has publicly called for lower rates sooner, though he has also promised independence from political pressure, and that President Donald Trump has repeatedly pushed for faster cuts. The report noted lower interest rates are good for risky assets like Bitcoin because they disincentivise investors to hold bonds by paying out less yield. It also said higher oil prices, with Brent crude back above $100 per barrel as US-Iran peace talks stalled, complicate any immediate case for rate cuts. Ebtikar's view, shared with DL News, was that 'the sellers who were spooked by macro shifts or quantum fears have already exited' and that 'Bitcoin has found a stable floor and moved away from headline-driven drama and toward a more mature phase of growth.' The report added that 'since we're currently in a quieter trading range, there's no immediate rush for the exits.' The ETF inflow figures, over $2 billion in April after $1.3 billion in March, were presented as painting a bright picture.