Expert warning: Bitcoin's price may plummet to $10,000 due to market conditions. Learn more about the potential drop and its implications.
Mike McGlone, a strategist and senior market analyst at Bloomberg, has cautioned investors that the price of Bitcoin could drop by around 90% due to market conditions in gold and stocks. He tweeted that Bitcoin could fall to $10,000 as gold traders prefer it. McGlone believes nothing can stop Bitcoin’s downward trend as gold has performed better in 2025. He also mentioned that capital inflows into gold exchange-traded funds (ETFs) have increased, which could indicate a shift in risk appetite. Currently, Bitcoin is trading at $84,290 and a drop to the level predicted by McGlone would be a decrease of approximately 88%.
