Bloomberg Strategist Says Bitcoin Could Fall 88 Percent to $10,000 If US Stocks Drop 20 Percent
AI Market Summary
Bloomberg strategist McGlone warns BTC could slide toward $10,000 if US equities correct 20%, framing crypto weakness as an early warning of tighter liquidity and rising yields. CryptoQuant rebuts with onchain cost-basis data suggesting a ~$30,000 floor, citing ETF flows and corporate treasuries. The debate matters because it ties BTC to macro risk appetite; near-term, ETF outflows and yield sensitivity keep sentiment fragile without confirming an extreme downside scenario.
Impact level
● Medium
Affected assets
BTC/USDT+1.37%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Bloomberg Intelligence strategist Mike McGlone said Bitcoin could drop toward $10,000 if US stocks correct by 20%, an 88% slide from its recent level near $82,000. CryptoQuant founder Ki Young Ju countered that roughly $58 billion in ETF inflows and 1.3 million BTC held by corporate treasuries put the onchain cost basis floor closer to $30,000. Bitcoin's 2025 peak topped $100,000.
