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Mike McGlone started his tweet by suggesting that Bitcoin may have reached a historic peak against gold and that the market may be in for a big correction – a Bloomberg strategist Mike McGlone offers insights to the global market crash and says Bitcoin could plunge to $10,000 as part of a broader reset. With the price of Bitcoin (BTC) demonstrating a largely sideways movement trend over the last seven days, senior commodity strategist at Bloomberg Mike McGlone has A Bitcoin decline below $100,000 might trigger “deflationary pressures and lower bond yields.” In this case, the Bloomberg strategist added, investors may turn their In order to rise, BTC may have to pass through a significant drop first, McGlone wrote in the report, and if Bitcoin stalls now where it isaround $30,000 per coin Bloomberg Intelligence’s senior macro strategist Mike McGlone is predicting that Bitcoin will drop lower due to recessionary headwinds. In a new Crypto Outlook edition According to Bloomberg Intelligence Senior Commodity Strategist Mike McGlone, a correction in equity markets could be the catalyst that drives gold above $4,000

Here\'s What Would Disrupt Bitcoin\'s Hot Streak, According to Mike McGlone

Is Bitcoin\'s hot streak about to end? Bloomberg Intelligence\'s senior macro strategist Mike McGlone is sounding the alarm. Many are wondering, "Here\'s what would disrupt Bitcoin\'s hot streak according to Mike McGlone?" and we\'re here to break it down.

McGlone started his tweet by suggesting that Bitcoin may have reached a historic peak against gold and that the market may be in for a big correction. His analysis points to potential recessionary headwinds that could dramatically impact the cryptocurrency market. In a new Crypto Outlook edition, McGlone highlights several factors that could send Bitcoin\'s price tumbling.

McGlone\'s Bitcoin Prediction: A Plunge to $10,000?

A Bloomberg strategist, Mike McGlone, offers insights to the global market crash and says Bitcoin could plunge to $10,000 as part of a broader reset. He anticipates that challenging economic conditions could lead to a significant decrease in Bitcoin\'s value.

With the price of Bitcoin (BTC) demonstrating a largely sideways movement trend over the last seven days, senior commodity strategist at Bloomberg, Mike McGlone, is watching closely for potential triggers that could break this pattern.

Equity Market Correction: The Catalyst for Gold?

According to Bloomberg Intelligence Senior Commodity Strategist Mike McGlone, a correction in equity markets could be the catalyst that drives gold above $4,000. This scenario would likely put further pressure on riskier assets like Bitcoin.

Deflationary Pressures and Bond Yields

McGlone suggests that a Bitcoin decline below $100,000 might trigger “deflationary pressures and lower bond yields.” In this case, the Bloomberg strategist added, investors may turn their attention to safer haven assets.

Bitcoin\'s Next Move: Down Before Up?

In order to rise, BTC may have to pass through a significant drop first, McGlone wrote in the report. If Bitcoin stalls now where it is—around $30,000 per coin—Bloomberg Intelligence’s senior macro strategist Mike McGlone believes a deeper correction is likely. He is predicting that Bitcoin will drop lower due to recessionary headwinds.

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