Bitcoin

Citadel

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Crypto analyst and trader Michael van de Poppe has posted a screenshot from a <a href="https://u.today/blackrock-ceo-says-bitcoin-is-new-gold" rel="noopener noreferrer nofollow">BlackRock</a> document, in which the leading global fund manager names an optimal share of Bitcoin in a risk portfolio for investors. 
Poppe shared a screenshot from a BlackRock document called "Asset Allocation with Crypto: Application of Preferences for Positive Skewness," in which the authors name the Bitcoin share in an optimal risk portfolio equal to 84.9%. Even though the document is dated early 2022, it still seems to be relevant for the crypto investment community. 
The analyst then took a jab at those who expect the flagship cryptocurrency to decline to the $12,000 level in the near future. "I'll just buy more," van de Poppe tweeted. 
<blockquote class="twitter-tweet"> 
 Analysts at Blackrock state that an optimal risk portfolio includes 84% of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>.Yet, you think we'll go to $12K.I'll just buy more. <a href="https://t.co/3oHRSwppiR" rel="noopener noreferrer nofollow">pic.twitter.com/3oHRSwppiR</a>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1684141515520765952?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 26, 2023</a> 
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<h2 id="blackrock-and-its-btc-etf-shock-wave">BlackRock and its BTC ETF shock wave</h2> 
Earlier this year, BlackRock sent shock waves among the crypto market as it filed for a Bitcoin spot ETF with the SEC regulator. It was followed by a similar application of Invesco. These moves of the investment companies pushed <a href="https://u.today/breaking-bitcoin-soars-past-30000-following-blackrock-and-invescos-etf-applications" rel="noopener noreferrer nofollow">the Bitcoin price up past the $30,000</a> level. 
Several other major Wall Street companies, including Fidelity, also submitted filings for their own <a href="https://u.today/btc-holdings-of-funds-see-strong-uptick-thanks-to-blackrock" rel="noopener noreferrer nofollow">Bitcoin spot ETFs</a>. However, the SEC regulatory agency returned them, saying that all these document filings were inadequate. The companies then corrected them and submitted the filings once again. 
Fidelity, together with Citadel Securities and Charles Schwab, launched a centralized exchange called EDX Markets. That also impacted the Bitcoin price positively. At the time of this writing, the leading digital currency is changing hands at $29,194, according to data provided by CoinMarketCap. 
<a href="https://u.today/dogecoin-community-tells-elon-musk-it-regrets-losing-doge-as-twitter-logo-to-x" rel="noopener noreferrer nofollow">card</a> 
<h2 id="investors-keep-withdrawing-btc-to-self-custody">Investors keep withdrawing BTC to self-custody</h2> 
Santiment on-chain data aggregator reported that it noticed Bitcoin continuing to outflow from crypto exchanges and into the self-custody of cold wallets. The analysts have also noticed that despite the recent fall below the $30,000 line, they do not see any signs of FUD or upcoming big sell-offs. 
At press time, per Santiment, there are 1.17 million BTC held in wallets related to crypto exchanges; that is the smallest amount of BTC since November 2018, when the crypto winter was in full swing. 
<blockquote class="twitter-tweet"> 
 👍 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>'s supply on exchanges continues to move into self custody, and the drop below $30k last week hasn't triggered severe reactions that would indicate <a href="https://twitter.com/hashtag/FUD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FUD</a> or more upcoming sell-offs. The 1.17M <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> on exchanges is the least amount since Nov, 2018. <a href="https://t.co/UlqAO0W0cH" rel="noopener noreferrer nofollow">https://t.co/UlqAO0W0cH</a> <a href="https://t.co/HmmUMm7QIx" rel="noopener noreferrer nofollow">pic.twitter.com/HmmUMm7QIx</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1684025019855433728?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 26, 2023</a> 
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BlackRock Names Optimal Bitcoin Share in Investor's Risk Portfolio – You'll Be Surprised

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