Bloomberg Analyst Mike McGlone Repeats $10,000 Warning for Bitcoin (BTC)! “It Absolutely Needs to Break Above This Level!”

Bitcoin’s price plummeted and global markets were shaken after US President Donald Trump threatened extensive tariffs on NATO countries over control of Greenland on Saturday.

Accordingly, the US will impose a 10% tariff on goods from the UK, Denmark, Norway, Sweden, France, Germany, the Netherlands, and Finland starting February 1st, and this rate will increase to 25% by June.

While these events negatively impacted Bitcoin, Bloomberg Intelligence analyst Mike McGlone, who generally predicts a decline for BTC in 2025, shared his new analysis.

Mike McGlone, in a statement on LinkedIn, claimed that if the Bitcoin price fails to rise above $100,000, the cycle will have come to an end and it could fall to $10,000.

“A failed rally in 2025 suggests a cautious short position (bet on a decline) scenario for 2026.”

Staying below $100,000 and failing to rise above it could signal the end of the game/bull run, and a normal pullback towards $10,000 is possible.

At this point, the analyst viewed the drop below the 200-day moving average and the rebound in early 2026 not as an uptrend, but as a phase of showing strength. The analyst also added that a correction to $50,000 this year would be a typical pullback.

McGlone concluded by saying that a stock market recovery is necessary for Bitcoin to gain further value, and that metals (precious metals), rather than cryptocurrencies, may form a relative peak this year.

“Bitcoin and gold have provided significant returns over the past decade, but cryptocurrencies have surged excessively last year. Therefore, metals (precious metals) may reach a relative peak this year.”

Furthermore, depending on how events unfold, Bitcoin and other cryptocurrencies may face downward pressure.

*This is not investment advice.