BlockBeats message, April 6, Bloomberg Intelligence senior commodities strategist Mike McGlone said that if Bitcoin fails to regain and hold above $75k, the price could fall to around $10k; he considers that level a long-term equilibrium price.
McGlone noted that $75k is a key technical and psychological level, and if it is effectively broken through, the bearish view would fail; otherwise, the price may continue its downward trend. McGlone further said that Bitcoin had long traded around $10k prior to 2020, and that price was also an important high-volume trading area since the launch of 2017 futures. On the other hand, potential stock market turmoil and a decline in volatility may cause Bitcoin to experience what could be its first-ever stretch of consecutive declines in 2026. “This may indicate the direction of future trends.”
McGlone’s comments prompted Bitcoin supporters to criticize his prediction as being out of touch with reality; many cited his past record of extreme calls to question its accuracy. In 2018, McGlone predicted that Bitcoin would fall to $1,100; the actual low was $3,000. In addition, during the 2023–2025 period, he issued bearish signals multiple times, such as predicting that Bitcoin would be unable to break above key highs or would undergo a significant pullback.
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