Bloomberg Analyst Mike McGlone Warns Bitcoin Could Drop to $10,000 Amid U.S. Recession Fears

Senior Bloomberg Intelligence analyst Mike McGlone has issued a stark warning for Bitcoin (BTC), suggesting its price could plummet to the $10,000 level. The forecast is tied to growing risks of a significant economic recession in the United States. McGlone, a well-known commodity strategist, argues that macroeconomic headwinds and aggressive Federal Reserve monetary tightening could trigger a major downturn in risk assets, including cryptocurrencies. He draws parallels to past market cycles where liquidity crunches led to severe corrections. This bearish outlook highlights the potential for further downside pressure on BTC as traditional financial instability increases, testing the digital asset's resilience as a perceived store of value.