- Bloomberg analyst warns that Bitcoin could drop to $10K amid an overheated risk market.
- Despite bearish predictions, Bitcoin remained bullish, trading at $84,288.24 with strong technical indicators.
Bitcoin [BTC]’s price movements remain highly unpredictable, swinging between bullish and bearish trends.
Bloomberg analyst’s Bitcoin warning
Amid this volatility, Bloomberg analyst Mike McGlone has issued a cautious outlook, warning that Bitcoin could potentially drop to $10,000.
He pointed to signs of an overheated risk market while gold continues its upward trajectory and said,
“Gold is up about the same amount in 2025 to March 13 — about 15% — that Bitcoin is down. But with Bitcoin at about $80,000, what stops those trajectories? About a 6% decline in the S&P 500 could suggest what matters.”
Drawing historical parallels, he also noted that BTC emerged in 2009 during the stock market’s downturn following the mortgage crisis.
He said,
“$100,000 Bitcoin Might Lose a Zero, Favoring Gold – #Bitcoin was born about when the #stockmarket bottomed in 2009 and has been a leader of one of the greatest risk-asset rallies in history, which may suggest what matters.”
Community reacts
Replying to this prediction, Dave Weisberger took to X (formerly Twitter) and outlined a hypothetical worst-case scenario where Bitcoin adoption stalls, gold narrative investors exit, the stock market collapses, and BTC’s beta remains stable—suggesting that under such extreme conditions, Bitcoin’s price could decline.
However, he immediately dismissed these possibilities and stated,
“Needless to say, I think NONE of the above will happen with a CHANCE the stock market crashes, which, of course, would trigger a flood of liquidity…”
Further sharing his optimism on Bitcoin, investor and entrepreneur Ted noted,
Source: Ted/X
However, if this major crash unfolds, the impact could be far more severe than anticipated, as highlighted by Bitcoin maximalist Joe Buchner, who stated,
“If BTC dropped to 10k I think we’d be in a larger global issue than worrying about that. WWIII maybe would be in play and even then I think BTC would get flooded with $ for safety.”
Bitcoin’s current market trend
Yet, despite the prevailing market concerns and bearish predictions, Bitcoin continues to show resilience.
At $84,288.24, BTC has gained 0.46% in the past 24 hours, according to CoinMarketCap.
Notably, technical indicators such as the MACD and RSI suggest that BTC remains in a bullish phase, hinting at potential upward momentum.
Source: TradingView
Therefore, while skepticism looms, market dynamics indicate that Bitcoin’s trajectory is still unfolding, leaving investors watching closely for the next big move.
