Wednesday, September 23, 2026

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Bloomberg Analyst Warns Bitcoin Faces Risk of Steep Downturn

Although Bitcoin has rebounded past $86,000, Bloomberg Intelligence senior commodity strategist Mike McGlone cautions that this recovery might encounter a steep correction. Pointing to elevated Treasury yields, vulnerabilities in the stock market, and diminished backing from traditional financial sectors, McGlone believes Bitcoin is currently trapped between the $100,000 milestone and a possible retreat back toward $60,000.

Anna Dovzhenko
Anna Dovzhenko
Anna Dovzhenko is a skilled PR and advertising professional with a strong focus on content strategy and brand communication. With a keen eye for storytelling and a deep understanding of audience engagement, Anna specializes in crafting compelling content that builds brand identity and drives results. Her expertise spans media relations, digital campaigns, and content development, making her a valuable asset in any marketing or communications team.

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