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Mike McGlone Bitcoin outlook

Story timeline · 3 updates, 16 Oct to 31 Oct 2026

Bloomberg senior analyst Mike McGlone warned Bitcoin could fall to about $10,000 if US stocks slump 20%, citing record risk-free returns and a falling 50-week moving average. He later said Bitcoin's sideways trading against the S&P 500 may warn on speculative crypto and wider risk assets. He now says Bitcoin's weak…

Every update, oldest first

  1. Bloomberg analyst Mike McGlone says Bitcoin could fall to $10,000 if US stocks drop 20%

    Mike McGlone, a senior analyst at Bloomberg, said Bitcoin could fall to about $10,000 if US stocks slump 20%. He said record risk-free returns and a falling 50-week moving average for BTC suggest the market's upswing may be ending.

    BitcoinCoinNessAIBearish

  2. Mike McGlone says Bitcoin's flat run against the S&P 500 may warn on risk assets

    Bloomberg senior commodity strategist Mike McGlone said Bitcoin's sideways trading against the S&P 500 may warn not only on speculative cryptocurrencies but on the wider risk-asset market. He said the BTC-to-S&P 500 ratio is closely tied to Federal Reserve tightening expectations, which have recently declined.

    BitcoinCoinNessAIBearish

  3. Mike McGlone says Bitcoin may be losing its edge to US Treasuries

    Bloomberg Intelligence macro strategist Mike McGlone says Bitcoin's weak performance against US Treasuries since late 2024 may signal its prime has passed. He says the IBIT/TLT ratio stood at 81 on 30 Oct, below the 100 baseline set at the end of 2024, despite IBIT's volatility being about four times TLT's.

    BitcoinCoinNessAIBearish

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.