Bitcoin Opened Up to $10,000?… Bloomberg Strategist Says $90,000 Is the Ceiling

▲ Bitcoin (BTC) decline / ChatGPT-generated image

A warning has emerged that Bitcoin (BTC) could plunge to as low as $10,000 after failing to reclaim the $90,000 high it recorded at the beginning of the year.

According to cryptocurrency media outlet U.Today on February 24 (local time), Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, analyzed that “Bitcoin’s surge to around $90,000 during the first quarter of this year is likely to represent the ceiling for all of 2026.” McGlone warned that if macroeconomic indicators deteriorate and overall market stress resurfaces, Bitcoin would be among the first risk assets to be hit. He added that setting sell targets whenever Bitcoin approaches $90,000 could be a prudent strategy.

McGlone maintains a dramatic scenario in which Bitcoin could retreat to $10,000 in the worst-case scenario as it reverts to its historical average. Comparing past data, a return to pre-pandemic trading concentration levels is within the realm of possibility. According to his analysis, the key support range currently lies between $28,000 and $66,000. He further diagnosed that if Bitcoin fails to hold the $75,000 level or decisively falls below $64,000, it could signal that digital assets are leading a broader decline in risk assets.

The decline in Bitcoin’s price is expected to generate a reverse-asset effect, exerting downward pressure not only on the cryptocurrency market but also on equities, industrial metals, and Treasury yields. McGlone analyzed that the highs recorded in January for Bitcoin, gold, and silver could mark the peak for the year amid worsening macroeconomic data. He pointed out that Bitcoin is no longer an independent asset but is increasingly moving in sync with risk assets within the global financial system.

While some market participants criticize McGlone’s $10,000 forecast as overly pessimistic, he remains firm in his technical view based on mean reversion theory. Given Bitcoin’s tendency to amplify macroeconomic trends due to its volatility, any signs of economic slowdown could lead to steeper declines. The stress test Bitcoin faces in 2026 suggests that investors must prioritize rigorous risk management at this juncture.

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