A Frightening Scenario from Bloomberg’s Legendary Analyst Mike McGlone! He Revealed His Big Bear Prediction for Bitcoin (BTC)!

The institutional bull Strategy, known for its regular weekly Bitcoin ($BTC) purchases, did what was feared and made its first Bitcoin sale.

This caused a decline in Bitcoin, with the price falling below $72,000.

This situation has led to expectations of further decline in the $BTC price, with a Bloomberg strategist stating that in the worst-case scenario, $BTC could fall to $10,000.

In his latest analysis, Mike McGlone, senior macro strategist at Bloomberg Intelligence, predicted that Bitcoin could fall to around $10,000, its long-term average.

McGlone noted that the correlation between cryptocurrencies and stocks broke down in late May, when the cryptocurrency market showed weakness and the S&P 500 index reached an all-time high.

At this point, McGlone describes Bitcoin’s divergence from the S&P 500, which hit a record high in late May, as a significant sell signal, noting that this breakout could cause the Bitcoin price to fall towards $10,000.

The analyst cited another bearish signal: the Bloomberg Galaxy Crypto Index (BGCI) falling below the 2,000 level, which is half of its 2025 peak.

In conclusion, McGlone analyzed that the market has entered a broad bubble burst phase and that Bitcoin could experience a correction similar to the one in 2018.

However, some analysts in the sector argue that the $10,000 scenario is unlikely, citing the strong demand base from BlackRock and Fidelity’s spot Bitcoin ETFs.

However, McGlone still leaves a chance for Bitcoin to recover, marking the $75,000 level as a red line. Only a sustained and secure consolidation above this level could invalidate the bearish scenario.

As you may recall, McGlone had previously made similar predictions in February and April regarding a drop to $10,000.

*This is not investment advice.