Is Bitcoin Too Cold or Is Silver Too Hot? Bloomberg's Top Strategist Ends Speculation

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Silver is acting as the speculative lead again, and Bitcoin looks like an asset waiting quietly for a rotation back. Mike McGlone from Bloomberg Intelligence says the Bitcoin-to-silver ratio is close to its key 1,000x floor. This level was hit during the 2018 and 2020 cycle resets, but it is under pressure now because U.S. stocks are still way overdue. Advertisement Source: Mike McGlone The S&P 500 remains nearly 10% above its 200-day average, and the market cap-to-GDP ratio is hovering around historic extremes — pushing capital flows into hard assets like silver while starving risk assets like crypto. To put it simply, while silver is doing well amid all the equity froth, Bitcoin is slipping into deeper undervaluation territory. The chart comparing BTC/XAG and the U.S. market cap-to-GDP clearly shows this divergence. HOT Stories Morning Crypto Report: XRP Risks Becoming $2 Stablecoin, Coinbase Reveals 4 Proofs of Crypto Reset, '$10,000 Zcash' Advocate Ends Speculation on ZEC Developers' Scandal Ripple-Backed Evernorth to Expand XRPL Adoption Crypto Market Review: Worst Shiba Inu (SHIB) Denial Since September 2025, This Can Save Bitcoin (BTC), Ethereum (ETH) Price in Good Spot Now Too Quiet? Bitcoin Volatility Hits Record Low 2026 is like 2021, but the opposite McGlone's main warning is that 2026 might turn out to be the opposite of 2021. Silver's 100-week spike to 2.25x its long-term moving average has only happened during parabolic blowoffs in the past, and this time it is happening while Bitcoin remains below its equivalent 1.0x threshold. The spread is a good sign that metals and crypto are at different risk levels. Advertisement You Might Also Like Fri, 01/09/2026 - 13:47 Notorious Bitcoin Whale Opens Mega $30,065,443 XRP Long: Details By Gamza Khanzadaev The baseline? A soft-landing scenario with silver retracing toward $50 and Bitcoin returning to $50,000 . That is not a positive outlook on either of them — it is more like a reality check. The bottom line is that silver's outperformance might not last, and Bitcoin's underperformance might not be fair. Right now, Silver's going strong, but it might just be emotional. On the other hand, Bitcoin's not moving much, which could be a sign that big institutions are waiting to see how things play out. Advertisement #Bitcoin News #Bitcoin Price Prediction #Bitcoin #Bloomberg