BlackRock says #Bitcoin is “Risk Off” as a global monetary alternative, while ETH is “Risk On” as a blockchain play.
If Bitcoin is being categorized as “Risk Off,” it means institutions increasingly see it as a safe-haven asset—akin to gold or U.S. Treasuries—rather than a speculative bet. That’s a major psychological shift in traditional finance.
ETH and the rest of crypto being labeled “Risk On” reinforces the divide: Bitcoin as a monetary asset, everything else as tech speculation. It’s a narrative that strengthens Bitcoin’s position as the global neutral reserve asset while leaving the rest of crypto in a different category entirely.