Bloomberg Analyst Mike McGlone Predicts Bitcoin Crash to $10,000 by 2026

Key Facts

1Bloomberg commodity analyst Mike McGlone predicted that Bitcoin could fall as low as $10,000 later in 2026.

2The prediction has reignited the debate over the actual market bottom for cryptocurrencies amid current volatility.

Bloomberg commodity analyst Mike McGlone has reaffirmed his bearish forecast for Bitcoin, targeting a drop to $10,000 by 2026 unless the price reclaims the $75,000 threshold. McGlone identified the unwinding of pandemic-era liquidity as a primary driver for the predicted crash, exacerbated by a significant oversupply of competing digital tokens. The analysis also highlighted the growing structural importance of stablecoins like USDT within the evolving market framework. Meanwhile, Katie Stockton of Fairlead Strategies characterized recent price action as "boring," suggesting that a quick recovery remains unlikely for investors. Technical focus remains fixed on the critical $60,000 psychological support level as the market grapples with liquidity contraction and a lack of immediate upward catalysts.

7 months ago

Version History

14 additional sources confirmed this story

Version 47 months ago

What changed: Added specific fundamental drivers for the forecast, including pandemic-era liquidity unwinding and token oversupply, while introducing the role of stablecoins.

Version 37 months ago

What changed: Added Katie Stockton's comments on lack of momentum and the technical shift toward the $60,000 support level.

Version 27 months ago

What changed: Added the $75,000 level as a specific upside invalidation point that must be reclaimed to void the analyst's $10,000 bearish target.

Version 17 months ago

What changed: Added technical support levels at $63,000 as a near-term downside target and incorporated details on exchange selling pressure.