Bloomberg's Mike McGlone Warns Bitcoin Could Plunge To $10,000 As U.S. Recession Risk Looms

Bloomberg Intelligence strategist Mike McGlone has projected that Bitcoin could eventually slide to $10,000, linking this scenario to a potential peak in U.S. equities and an approaching recessionary phase. After rebounding from $65,300 on Feb. 12 to $70,800 on Feb. 15, Bitcoin was trading at $68,241 and 2.3% lower week-on-week, while McGlone argued the long-running "buy the dip" mindset since 2008 may be fading as the broader "crypto bubble" unwinds.