According to BeInCrypto, Bloomberg Intelligence senior commodity strategist Mike McGlone reiterated a previous forecast suggesting that Bitcoin could fall toward $10,000 under certain market conditions. In a post dated October 16, McGlone associated the potential price movement with broader economic risks, specifically referencing a US stocks decline of 20%. The statement reflects his outlook as of that date and does not specify timing beyond the conditional link to the stock market condition.
Other analysts have responded critically, emphasizing on-chain data and recent price behavior in pushing back against the scenario. No additional details about the magnitude of the expected decline, timeframe, or specific triggers were provided by McGlone in the referenced post. The comment remains a conditional forecast tied to the hypothetical 20% drop in US stocks.
