Bloomberg Analyst Mike McGlone Warns Bitcoin Could Crash To $10,000

Bloomberg’s Senior Commodity Strategist Mike McGlone, in a recent interview, predicts a drop in Bitcoin’s price to $10,000. According to him, a deflationary shock that mirrors the 2008 crash is expected to ignite soon. It will make risky assets like BTC decline sharply, while Gold could rise to $4,000 as a safe haven. He also suggests that crude oil may drop to $40/barrel. 

McGlone argues that an overvaluation of assets, the tightening of the Federal Reserve, and global macroeconomic conditions can result in a correction of both commodity and equity markets. As an observation from someone involved in decades of market research, McGlone’s views are seriously considered by the crypto community. 

Bitcoin Is Not Immune To Current Global Economic Conditions

McGlone is doubtful about the endurance of Bitcoin despite its long-term revolutionary potential. He cautioned that digital assets are not immune to the global economic state due to their speculative nature. However, he acknowledges that the same deflationary factors will eventually become a benefit for crypto in the long run. In the short term, Bitcoin could face a never-before selling and shorting pressure despite Trump’s supportive regulatory frameworks. As fiat currencies lose their purchasing power and central banks turn into liquidity injections, BTC’s scarcity may begin to appeal as a hedge against the traditional economic structure. 

McGlone points out that the deflationary pressures are being worsened by the economic slowdowns in the U.S., Europe, and China. In the case of China, declining industrial production and issues in the real estate sector have become serious challenges. Meanwhile, the European Union is struggling with demographic limitations and an energy crisis. He cautions that the world is over-leveraged, pointing to the negative correlation between economic productivity and debt accumulation. 

McGlone Says Bitcoin Will Touch 10,000 Again

According to McGlone, Bitcoin is more likely to head toward $ 10,000 than $ 30,000 in a deflationary environment. “Bitcoin is one of the greatest indicators of excess liquidity. When liquidity gets pulled away, it drops. That’s what happened last year”, he added. Various blockchain price prediction experts also have a similar view, where they opine that a crash is inevitable. 

McGlone Green Signals Gold And Doubts Oil

McGlone’s prediction that Gold could sharply increase to $4,000 an ounce, almost double the current price, is based on the historical performance of the asset during times of economic decline. He opined that Gold has a historical significance as a store value in times of monetary stress. McGlone’s forecast that oil will decline to $40 is based on the potential disruptions in supply chain and geopolitical communication. He expects the exact scenario of the 2008 financial crisis, where the price dropped from $140 to $40 in a few months. 

Will The 2008 Financial Crisis Repeat In 2025?

The growing number of stocks, the decline in Chinese demand, the slow industrial production, and the tariffs increase the likelihood of a $40 recession, as witnessed in 2008. Along with Mike McGlone, various reliable analysts contend that we may witness the repeatation of the crash in a different manner. However, charts can redirect into any positions in this uncertain scenario. 

Also read: Strategy Pauses Bitcoin Purchase, Loses $5.9 Billion In Q1 2025 While Claiming Shareholders Don’t Own Its BTC

Bitcoin’s Current Market Overview

After yesterday’s dip to $74K, Bitcoin is slowly recovering to $ 80 K. It is now trading for $78,966.52 with a 3.62% increase from yesterday. However, it is 6.43% down from the previous week. A detailed market overview follows. 

• Fear & Greed Index: 20 (Extreme Fear) 
• Market Sentiment: Neutral
• Supply Inflation: 20.76% (High) 
• Dominance: 0.01% 
• Volatility: 60.61% (Extremely High)