Bloomberg’s senior analyst Mike McGlone warns investors that Bitcoin prices could plummet by nearly 90% due to conditions on the stock and gold markets.
McGlone, a 66,900-strong follower on social media platform X tells his 66.900 followers in a recent thread that gold is now the preferred currency by traders, and the market capitalization of the most valuable crypto assets could plummet to $10,000.
McGlone says that there is nothing to stop BTC from falling, since gold has performed better than the digital flagship asset so far in 2025.
Bitcoin Back to $10,000? Gold is rising, peak beta leveraged risks. Bitcoin has fallen by about 15% since 2025, but gold is still up around the same percentage. What stops these trajectories when Bitcoin is at $80,000? What matters is a decline of about 6% in the S&P500.
“The biggest ETF launch in history. President Donald Trump’s move to volatile cryptos and speculation. And a re-election that could be a peak bubble similar to 25 years ago.”
Bitcoin currently trades for $84,899, which is a small increase from the previous day. McGlone’s price would be about 88% lower than Bitcoin’s current level.
When analyzing ETF data, the analyst notes that it is evident how investors are shifting from BTC towards gold.
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The post This Post Bloomberg Analyst Mike McGlone issues Bitcoin Alert, Says BTC could Crash 88% as Stocks Plummet might be updated as new developments unfold.
