Bloomberg Analyst Warns of Possible Bitcoin Price Drop to $10,000

Bloomberg Intelligence strategist Mike McGlone does not rule out Bitcoin falling to $10,000 – almost 90% from the current level – if the US stock market crashes. He wrote about this on X, reiterating a previous warning and citing tensions in the financial markets.

On Monday morning, Bitcoin was trading around $82,600 – approximately 34.5% below the all-time high of $126,080 reached in October 2025. A drop to $10,000 would mean almost another 88% loss.

McGlone explains his forecast by the close connection of Bitcoin with the US stock market. Possible triggers, he says, include a 20% drop in US stocks and tight monetary policy by central banks. Since its inception, Bitcoin has greatly benefited from the growth of risky assets, so a major market crash, in his opinion, would hit the cryptocurrency particularly hard.

Objections come from CryptoQuant founder Ki Young Ju, who considers institutional demand an important counterbalance. According to him, US spot Bitcoin ETFs have attracted about $58 billion, and public treasury companies hold approximately 1.3 million BTC. Even if this capital starts to leave, the average cost of Bitcoin reserves points more to a range around $30,000.

Historical blockchain data, according to Ki Young Ju, also goes against McGlone's forecast. At a price of $10,000, the MVRV ratio would drop to about 0.2. This indicator compares the current market value of all Bitcoins with their valuation at the time of the last movement on the blockchain. Even in previous severe bear markets, according to Ki Young Ju, the ratio did not fall below 0.6, so a drop to McGlone's level would require an exceptionally strong sell-off.