McGlone Raises Possibility Of 10000 Dollar Bitcoin

The bitcoin correction occurs in an already weakened macroeconomic context. As investors question the strength of the US economy, the fall of the flagship asset attracts attention far beyond the crypto market. For Mike McGlone, senior strategist at Bloomberg Intelligence, this movement could reflect broader tensions in financial markets and serve as an early signal of a recession risk in the United States.

Bitcoin’s fall as a macroeconomic warning signal

Mike McGlone draws a direct link between the recent bitcoin drop and potential weaknesses in the US market.

He presents several key points :

• He states that the bitcoin drop “could signal broader problems in markets and a recession in the United States”, highlighting that the movement goes beyond just the crypto market ;

• He specifies that the flagship asset now behaves more like a risk asset, integrated into traditional market dynamics ;

• He indicates that the current correction could reflect a broad decompression of financial valuations.

The strategist explains that Bitcoin no longer evolves in isolation. Its growing integration into institutional portfolios exposes it more to macroeconomic cycles. In this reading, the current weakness is consistent with an environment where risky assets become vulnerable to a possible economic slowdown.

An extreme scenario: the $10,000 threat

Beyond the macroeconomic signal, Mike McGlone puts forward a particularly severe hypothesis. He believes that, in a confirmed recession context, Bitcoin could “fall to 10,000 dollars”. This projection fits within the idea that a sharp adjustment in US stock markets would cause a marked correction of speculative assets.

He recalls that US markets show high valuation levels, which could amplify decompression movements in case of an economic shock. Bitcoin, now more correlated with global capital flows, would then face the same pressures as other risk assets.

This analysis puts the crypto market facing a delicate equation. Either the current drop, due to a slide into extreme fear, is part of a simple volatility cycle, or it constitutes an early signal of a deep macroeconomic reversal. Upcoming US economic data and the evolution of stock markets will be decisive to assess the relevance of this reading.