Bitcoin Crash Ahead: Bloomberg Strategist Predicts $10,000 Return

Bloomberg senior strategist Mike McGlone has renewed a stark prediction for Bitcoin, arguing that the market’s leading cryptocurrency could resume a prolonged decline that takes it back toward $10,000. Bitcoin crash ahead is a possibility, according to McGlone.

Why McGlone Sees Bitcoin Heading Back To $10K

McGlone framed the $10,000 level as a long-standing reference point for Bitcoin: it was a common trading price before the 2020–21 rally and has been among the most frequently traded levels since futures began trading in 2017. McGlone’s view, which he describes as a “bursting crypto bubble” scenario, is a minority stance among market analysts who predict a Bitcoin bottom this year as low as $38,000 in the worst scenario—much higher than the Bloomberg strategist’s price point.

Bitcoin Price Drop: A 92% Decline

If Bitcoin were to fall from its current trading price to $10,000, the move would represent a roughly 92% drop, taking into account the retrace already seen from its all-time high of $126,000. That would be materially lower than the previous bear-market trough around $15,000.

Historical Patterns

The idea that Bitcoin could revert toward $10,000 clashes with a common pattern observed in prior post‑Halving cycles. Historically, corrections following Halving rallies have produced higher lows compared with prior cycles. In that framework, a return to $10,000 would mark an unusually deep reversal well below the low of the last bear market.

Market Worries Mount: Geopolitical Tension and Whale Activity

Analysts point to heightened geopolitical tension as a near-term catalyst for risk-off moves: President Trump’s recent remarks suggesting intensification of strikes against Iran have reduced hopes for a swift de‑escalation, pressuring risk assets and prompting a pullback in crypto markets. Alex Kuptsikevich, chief market analyst at FxPro, told Bloomberg, noting Bitcoin’s consolidation between roughly $66,000 and $69,000. In addition, CryptoQuant data indicate that large holders — often referred to as whales — have moved from accumulation to net selling over the past year, a trend traders say helps explain the subdued price action.

Key Takeaways

• Bloomberg strategist Mike McGlone predicts Bitcoin could drop to $10,000.
• A 92% decline from current prices would be a significant drop.
• Geopolitical tension and whale activity are contributing to market worries.
• Institutional flows have not been supportive, with net inflows to US-listed spot Bitcoin exchange-traded funds (ETFs) turning negative.

Frequently Asked Questions

What is the predicted price of Bitcoin according to Mike McGlone?

Mike McGlone predicts Bitcoin could drop to $10,000, a roughly 92% decline from current prices.

What factors are contributing to market worries?

Geopolitical tension, whale activity, and institutional flows are contributing to market worries, with net inflows to US-listed spot Bitcoin exchange-traded funds (ETFs) turning negative.