Bloomberg Expert Cites Arguments for Bitcoin Falling to $10,000 as Early as 2026

• Mike McGlone expects a “breakdown” in the bitcoin price after a reversal in 2025.
• According to the analyst, the leading cryptocurrency could drop to $10,000 in 2026.
• Holding below $100,000 could indicate the current cycle is coming to an end.
• The main trigger for the decline could be instability in the stock market.

Bloomberg Intelligence senior commodity strategist Mike McGlone said that bitcoin could return to the $10,000 level in 2026.

The analyst called the situation a “stress test” for the crypto market. According to him, a break below the 200-day moving average in 2025 and a subsequent rebound in 2026 could signal the end of the current growth cycle. He noted that staying below $100,000 points to a potential phase shift and a return of the leading cryptocurrency’s price to $10,000.

The expert noted that a combination of several factors could put serious pressure on the market. In particular, he pointed to excessive growth in 2023–2024, weak risk-adjusted returns since 2021, a large number of crypto assets with unlimited issuance, and signals coming from the technical picture on the annual chart.

All of this, in his view, could trigger a drop to $50,000 as early as this year as part of a typical correction, and over the longer term — even to $10,000.

McGlone also emphasized that bitcoin’s next move will depend on the resilience of the stock market. If it weakens, cryptocurrencies could underperform other assets — for example, precious metals.

According to the expert, bitcoin could become one of the key indicators of deflation after a period of inflation-driven growth.

Earlier, the Bloomberg Intelligence senior strategist had already warned about a likely drop in bitcoin to $10,000. At the time, McGlone said that the key bullish factors were already priced into the asset’s current valuation, limiting further upside potential.