Bloomberg: Bitcoin to Lead Next Recession
Analysis
Price Impact
HighMike mcglone, bloomberg's chief commodity strategist, believes bitcoin could be a leading indicator for the next recession, comparing current market signals to those before the 2007 crash. he maintains a consistently bearish outlook, predicting a potential drop to $10,000.
Trustworthiness
MedMcglone is a recognized strategist with bloomberg intelligence, lending credibility to his macroeconomic analysis. however, his specific bitcoin price targets have a history of being highly speculative and consistently bearish, which may not always align with market movements.
Price Direction
BearishThe analysis suggests a significant downside for bitcoin, with a potential mean reversion to $50,000 and even $10,000 if a severe recession unfolds. this outlook is based on bitcoin acting as a high-beta risk asset during a perceived late-stage bull market peak.
Time Effect
LongA recession, as described by mcglone, and its full impact on asset prices, including a potential drop to $10,000, would unfold over an extended period, possibly extending into 2025 and 2026, rather than a short-term movement.
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Cover image via U.Today Read U.TODAY on Google News $10,000 price target Late-stage bull market Advertisement Mike McGlone, chief commodity strategist at Bloomberg Intelligence, has opined that Bitcoin might be the leading indicator of the next recession. He argues that some asset-price signals (gold at record highs, falling Treasury yields, rebounding equity volatility) look like early warning signs historically associated with major economic reset events. Bitcoin is a high-beta risk asset whose price reacts quickly to changes in global risk sentiment. If the flagship cryptocurrency starts to fall sharply, it may be an early market signal that leverage is unwinding. HOT Stories Morning Crypto Report: Elon Musk's SpaceX Relocates $100 Million in Bitcoin, USD Stablecoin $1 Million Exploit, New Cloudflare Outage Takes Down Coinbase XRP Hits Deepest Fear Levels Since October Crypto Market Prediction: 150% Shiba Inu (SHIB) Skyrocketing, Is Ethereum (ETH) Death Cross Cancelation Confirmed? Where's Bitcoin (BTC) Going to Stop: $93,000, $86,000 or Lower? Ripple Finalizes Acquisition of Treasury Management Giant GTreasury $10,000 price target McGlone has maintained a consistently bearish outlook on Bitcoin throughout the past two months. He argues that Bitcoin's sharp decline from its 2025 peaks indicates the onset of post-inflation deflationary pressures. Advertisement This is a similar pattern to the one that was observed in 2007 when the Federal Reserve began easing rates, only for markets to eventually crater. McGlone frequently points to Bitcoin's tendency toward mean reversion. He has predicted that the cryptocurrency could revisit the $50,000 level, potentially plunging even lower toward $10,000 in a more severe scenario. He has been consistently bullish on gold. The yellow metal has managed to shine in 2025 while Bitcoin, crude oil, and other risk assets have faltered. Late-stage bull market McGlone contends that the crypto's maturation and ETF inflows mark a late-stage bull market peak akin to dot-com excesses. He believes that the S&P 500 could record its third down year since 2008. The analyst has predicted possible trajectories toward 5,000 for the index alongside $50,000 Bitcoin in 2026. #Bitcoin Price Prediction #Mike McGlone