[BlackRock: Bitcoin's 'Hedge/Anti-Devaluation' Narrative Returns to Market Focus] BlockBeats News, August 28: Bitcoin has recently surged back to $80,000. Robbie Mitchnick, Head of Digital Assets at BlackRock, believes the market is refocusing on Bitcoin's hedge and anti-currency devaluation properties. Compared to its previous movements, which were more closely tied to the Nasdaq and tech stocks, this rally appears to be a macro repricing driven by growing concerns over debt, deficits, and the credibility of the U.S. dollar. This assessment aligns with recent market trends. Bitcoin has rebounded sharply from the $60,000 low range, briefly surpassing $81,000. At the same time, gold has remained strong, while long-term U.S. Treasury yields and the sustainability of U.S. fiscal policy have become focal points of market discussions. BlackRock believes that as debt, deficits, and currency devaluation re-enter investors' radar, scarce assets like Bitcoin and gold will see increased demand for allocation. Signs of improvement in liquidity are also emerging. Spot Bitcoin ETFs recorded approximately $2.4 billion in net inflows in August, making it one of the strongest-performing months of the year. Meanwhile, Bitcoin's correlation with the Nasdaq has significantly decreased, with some traders noting its recent performance has been more akin to gold. This suggests the market is shifting from 'risk asset trading' back to 'macro hedge trading.'