Key Points
- Bloomberg analyst Mike McGlone warns Bitcoin could potentially drop to $10,000 amid signs of an overheated risk market.
- Despite bearish predictions, Bitcoin shows resilience, trading at $84,288.24 with strong technical indicators.
Bloomberg analyst Mike McGlone has issued a warning about Bitcoin’s potential future price, suggesting it could fall to $10,000.
This comes amid signs of an overheated risk market, while gold continues its upward trajectory.
McGlone’s Bitcoin Warning
McGlone pointed out that gold has risen about 15% from 2025 to March 13, while Bitcoin has fallen by the same percentage.
He suggested that a 6% decline in the S&P 500 could indicate what might stop these trajectories.
The analyst also drew parallels to Bitcoin’s emergence in 2009 during the stock market downturn following the mortgage crisis.
Community reactions to this prediction have been mixed.
Dave Weisberger, for example, proposed a worst-case scenario in which Bitcoin adoption stalls, gold narrative investors exit, the stock market collapses, and Bitcoin’s beta remains stable.
Under such extreme conditions, Bitcoin’s price could decline.
However, Weisberger dismissed these possibilities and suggested that the stock market could crash, triggering a flood of liquidity.
Bitcoin’s Current Market Trend
Despite market concerns and bearish predictions, Bitcoin has shown resilience.
Currently trading at $84,288.24, Bitcoin has gained 0.46% in the past 24 hours, according to CoinMarketCap.
Technical indicators such as the MACD and RSI suggest that Bitcoin remains in a bullish phase, hinting at potential upward momentum.
So, while skepticism looms, market dynamics indicate that Bitcoin’s trajectory is still unfolding.
