This Top Analyst Warns Bitcoin Price Could Fall To $10,000 As Bear Market Extends
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Ahmed Balaha
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Bitcoin has been hit with one of the most extreme warnings yet. One prominent strategist called this a bubble that could slide to the $10,000 price point.
This means a reduction of approximately 85% from current levels. Unthinkable to many, but impossible to ignore when it comes to experienced market voices.
Is the bubble finally bursting?
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, doesn't call this a healthy return. Crypto history, he says, needs fact-checking.
In his view, capital is shifting to the AI horror business and away from digital assets.
McGlone describes it as a post-inflationary cycle. When inflation slows, the most speculative assets are often the first to feel it.
It also points to Bitcoin's tight correlation with tech stocks. That connection was used to help. Now it's a disaster. If technology is pressured by fears of AI disruption, crypto may be dragged down with it.
Bitcoin price “possible” way to $10,000
The numbers are not comforting. McGlone now points to $64,000 as a key level.
If the price of Bitcoin closes below that level, the door is open for a much deeper false slide, he believes, to $10,000.
Technical breakdowns will accelerate the downside, but a drop from $64,000 to $10,000 would signal a complete macro reset comparable to 2018 or 2022. Those units were driven by the avoidance of default events and systemic liquidity shocks, conditions that are currently unclear in credit markets.
About $678 million left Bitcoin ETFs in February, extending the multibillion-dollar selloff that began in November. Still, ETF positioning must be seen in context.
Total assets under management of major vehicles remain well above pre-approval levels. It would be even more worrying if the multi-billion dollar unwinding completely wiped out the pre-existing leaks – which hasn't happened.
Some on chain models set a more modest bear market floor around $55,000. But McGlone's thesis presupposes a more serious relaxation.
It also highlights high returns on gold and silver, pulling liquidity away from risk assets. In such an environment, Bitcoin is not immune.
It is important to note that Mike McGlone is mostly bullish on Bitcoin. He was right on some long-term upside risks in the distant past, but his Bitcoin-specific predictions usually did not come true on schedule, or at all.
Mike McGlone can't say the same about Bitcoin Hyper
Bitcoin still depends on macro liquidity, ETF flows and correlation with technology. When those wander, the price falls. Momentum is lost. Traders wait.
Bitcoin Hyper ($HYPER) is built differently.
This Bitcoin-focused Layer-2, powered by Solana technology, adds speed, lower fees, and true on-chain Bitcoin core security without compromising it. It's designed for movement, not just flexibility.
And traction is already building. The Bitcoin Hyper presale has raised more than $31 million so far, with $HYPER up by $0.0136751 before the next increase. Savings Rewards are currently up to 37% off.
Bitcoin Hyper is set to move regardless of that macro noise as it debates whether Bitcoin will hold or fall to $64K for the month.
Visit the official Bitcoin Hyper website here
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