Bitcoin on Track for $10,000 if S&P 500 Drops 20%, Bloomberg Strategist Insists
Bitcoin faces an 80% collapse to $10,000 if the US stock market drops 20%, according to a new Bloomberg Intelligence outlook.
AI summary
Bloomberg Intelligence strategist Mike McGlone warns that Bitcoin could fall 80% to $10,000 if the S&P 500 drops 20%, implying a BTC price near $10,000 from current levels. The call frames Bitcoin as a high-beta risk asset that would amplify a broad equity selloff. Traders should note this is an opinion-based macro outlook rather than a confirmed event, but it highlights downside correlation risk to equities.
