Bloomberg analyst Mike McGlone has indicated that Bitcoin (BTC) could lose a zero and a fall to $10,000 if risks persist. He shared his views in an interview today with David Lin.
According to McGlone, Senior Commodity Strategist at Bloomberg Intelligence, BTC price has been in the general rise since its launch with it hitting its highest value in 2025. Despite the sharp rise he highlighted Bitcoin’s increasing correlation with traditional risk assets like the S&P 500, which recently hit a record high, and stressed that BTC is behaving more like a peak bubble.
As stock markets face potential corrections, fueled by factors like U.S. tariff policies under U.S. President Donald Trump and rising volatility, Bitcoin could suffer as a high-beta asset.
McGlone noted, Bitcoin has “added a zero” multiple times in its history but routinely loses them during corrections. He sees current conditions such as potential S&P 500 declines to around 4,000, and a market cap-to-GDP ratio for U.S. stocks at 2.2 as signaling an impending reset.
Industry Debate: Bearish Warnings vs. Bullish Forecasts
The comments have sparked debate in the digital asset industry. While Bitcoin trades far above $10,000 today, McGlone’s view suggests a huge correction of nearly 90% price decline in BTC price. Meanwhile, firms like Bernstein remain bullish, forecasting $200,000 by year-end due to post-halving effects and ETF demand.
Also Read: Strategy Buys Additional 4,048 BTC, Now Holds $69.69B BTC in Total
