Why Bitcoin could drop to $10,000 — Bloomberg analyst's view
Bloomberg Intelligence strategist Mike McGlone believes Bitcoin could fall to the $10,000 level due to an oversupply of assets in the crypto market and the peak of the cycle being reached after the 2024–2025 rally.
Source Incrypted
The analyst also notes that Bitcoin is increasingly correlated with other risky assets, making it vulnerable to global macroeconomic pressures. However, he does not see the $10,000 level as the final bottom, suggesting the market could fall further until the sector is cleansed of excess projects.
Therefore, according to the expert's forecast, the crypto market may face further correction, which could pave the way for stabilization once the current cycle concludes.
