Bitcoin’s jump back above $91,000 at the start of a highly anticipated policy week is giving traders something to cheer about — yet some analysts argue the bounce masks fragility rather than strength.
Markets are bracing for the Federal Reserve’s final rate call of the year, and optimism over a potential cut helped BTC claw back weekend losses. But Bloomberg strategist Mike McGlone isn’t buying the feel-good recovery narrative. He believes the world’s largest digital asset is entering a zone where sentiment could quickly flip south.
- Bitcoin is trading above $91K but analysts warn the rebound may be fragile.
- Mike McGlone identifies $84K–$94K as the decisive zone for trend direction.
- Long-term averages imply a reset toward $50K remains possible.
Instead of framing the outlook as a simple bull-versus-bear debate, McGlone isolates a battlefield: the band stretching between $84,000 and $94,000. In his view, holding that territory could stabilize the market — slipping beneath it could feed a much deeper drawdown.
A Return to Average Could Be Painful
McGlone draws on longer-term averages to calculate where Bitcoin’s gravity point might lie if bullish momentum evaporates. The result is not encouraging: roughly $50,100. That number, he says, reflects the combined relationship between highs from recent years and this year’s structural low.
The strategist argues that this level is not a shock scenario — but a plausible place the asset could settle if confidence erodes.
The strategist paints an unusual narrative: Bitcoin, once admired as a harbinger of risk appetite, could flip roles. Instead of fueling rallies, it may become the instrument signalling that markets are bending toward slowdown or recession.
He also warns there is little evidence in current economic data suggesting conditions are strong enough to reverse that trajectory without price pressure first.
Not All Hope Is Lost — One Signal Could Reverse Sentiment
McGlone is not dismissing recovery entirely. He points to one benchmark: sustained price action above approximately $94,000. If BTC can stabilize meaningfully above that threshold, it would indicate that buyers remain in control and that the current downslope is more corrective than structural.
Earlier in the year, McGlone speculated about an extreme bear market that could drive Bitcoin as low as $10,000. Today, he treats that level as unlikely — but insists that a move toward $50,000 aligns with weakening participation, fading enthusiasm and macro pressures.
For traders hoping the Fed sets off a year-end rally, it means Bitcoin’s bounce is less a trend shift and more a test of nerves.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/bitcoin-price-forecast-analyst-warns-50k-reset-still-on-the-table/
