Bloomberg’s Mike McGlone warns AI risk could drag Bitcoin down to $10,000

Bloomberg analyst Mike McGlone warned that Bitcoin could fall to $10,000, pointing to exhausted ETF demand, correlation with equities, Fed rate hikes and broader macro headwinds. The call is a forecast rather than a confirmed event, but a drawdown of that scale would wipe out most of BTC's recent gains and pressure the wider crypto market. Traders would watch ETF flows and Fed policy signals as the key triggers for whether the scenario gains traction.