Bitcoin Tests $65,000 As Wall Street Deepens Its Crypto Ties

Bitcoin tested the $65,000 level this week, driven by major moves from two Wall Street giants. BlackRock published a new note urging institutional investors to keep a one to two percent allocation in Bitcoin. The asset manager argued that recent market drops came from internal liquidations rather than any weakness in the long term investment case.

At the same time, banking giant Citi confirmed plans to launch its new Custody+ platform later this year. This system will include Bitcoin custody, letting clients manage traditional assets and digital currencies under one roof with round the clock settlement features. Citi spends billions annually on its platform strategy, signaling serious intent to capture institutional demand.

These developments address two major hurdles that traditional finance previously faced, proper portfolio sizing and safe digital asset storage. BlackRock provides the math for risk management, while Citi builds the institutional vault. Traders will now watch to see if this heavyweight backing can push Bitcoin past key resistance and spark a sustained market recovery.