Bloomberg’s Mike McGlone Says Bitcoin Could Drop Below $10,000 — Advises Sell the Rallies

Bloomberg Intelligence senior commodity strategist Mike McGlone reiterated a deep bearish view on Bitcoin (BTC), telling viewers in a YouTube interview that BTC could still fall below $10,000 if global risk assets face a severe repricing. McGlone attributes the prolonged bear market to excess speculative supply and macro weakness, and he advised traders to "sell the rallies." The forecast prompted pushback from several market analysts: Quantum Economics founder Mati Greenspan called a drop to $10K unrealistic without an unprecedented global liquidity collapse or catastrophic events; AdLunam cofounder Jason Fernandes said a fall to roughly $28,000 would already indicate major liquidity tightening or systemic credit stress; PrimeXBT analyst Jonatan Randin expects a gradual downtrend with an accumulation zone around $30K–$40K and short-term oscillation between $60K–$70K, viewing a sub-$10K outcome as highly unlikely. At the time of reporting BTC traded near $69.5K–70K, with altcoins such as ETH, SOL and XRP also showing strength. Key takeaways for traders: McGlone’s warning reinforces a macro-driven tail-risk narrative and argues for defensive positioning (selling into sharp rallies and monitoring liquidity indicators), but most analysts rate a collapse to $10K as extremely low probability absent catastrophic global events. Expect continued volatility and possible short-term pullbacks; risk management and attention to macro liquidity remain central for trading decisions.