Bitcoin on Track for $10,000 if S&P 500 Drops 20%, Bloomberg Strategist Insists
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6 Articles
Bloomberg Strategist Calls Bitcoin a “Stock-Market Puppet,” Maintains $10,000 Target
Bloomberg commodity strategist Mike McGlone reiterated his prediction that Bitcoin (BTC) could fall to $10,000, calling the cryptocurrency a “complete stock puppet” whose performance remains heavily influenced by US equities. Speaking to Maggie Lake on Welthion recently, McGlone argued that Bitcoin has yet to demonstrate the resilience needed to justify more optimistic expectations. He pointed to its relationship […]
Mike McGlone of Bloomberg Intelligence looks at a Bitcoin at $10,000 if U.S. shares fall by 20%. CryptoQuant’s Ki Young Ju estimates a flat close to $30,000 from ETF flows, corporate holdings and on-chain metrics. Fidelity’s Jurrien Timmer presents a more optimistic reading of the cycle; none of these scenarios guarantees the course of the price.
Mike McGlone reiterated his $10,000 Bitcoin target, linked to a 20% drop in US stock markets. Cryptoquant CEO Ki Young Ju argues that the on-chain floor is around $30,000.
Bloomberg Sees Bitcoin Price at $10K and Cryptoquant's CEO Doesn't Agree
Bloomberg Intelligence strategist Mike McGlone has put a $10,000 target back on bitcoin, and within hours, Cryptoquant CEO Ki Young Ju replied that the onchain floor sits much closer to $30,000. McGlone’s Domino Theory McGlone laid out the call in an X post yesterday, previewing a Bloomberg Intelligence report titled “A Bitcoin $10,000 Reversion Path […]
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