“A Hurricane Is Coming”: Bloomberg Analyst Warns Bitcoin Could Crash to $10K This Year - Crypto Economy

TL;DR

• A Bloomberg Intelligence strategist warns Bitcoin could fall to $10K, pointing to the unwinding of pandemic-era liquidity and an oversupply of competing tokens.
• He also argues stablecoins like Tether USDT could gain structural importance over time.
• Despite the bearish view, other analysts highlight ETF inflows, institutional demand, and Bitcoin’s scarcity as factors that may reduce the scale of any downturn.

Bitcoin faces renewed debate after a prominent market strategist warned that a sharp correction could take place this year. The digital asset remains well above historical averages, raising questions about whether current valuations are supported by fundamentals or lingering effects from previous liquidity cycles.

Bitcoin Price Outlook And Market Structure Shift

Bloomberg Intelligence’s Mike McGlone said Bitcoin could drop toward $10,000 if macro conditions tighten and excess speculation continues to unwind. With Bitcoin recently trading near $70,000, such a decline would represent a drop of more than 85%. He linked this scenario to the reversal of expansive monetary conditions that supported risk assets during the pandemic.

McGlone identified $75,000 as a key threshold. Bitcoin briefly moved above that level during a period of geopolitical tension before pulling back, underscoring its sensitivity to broader market sentiment. He also noted that the $10,000 range has historically seen strong trading activity since 2017, when regulated futures markets expanded access to the asset.

At the same time, Bitcoin’s market structure has changed. The introduction of spot ETFs in 2024 brought institutional investors into the market, which may help reduce extreme volatility compared to earlier cycles driven primarily by retail flows.

Bitcoin And Crypto Market Expansion Dynamics

The analyst also pointed to the rapid expansion of the crypto market as a potential headwind for Bitcoin. Thousands of tokens, including meme coins like Dogecoin, have divided liquidity and investor attention.


He argued that stablecoins such as Tether USDT represent one of the most consistent growth areas in digital assets. With a market capitalization above $180 billion, USDT plays a central role in trading and liquidity across exchanges. McGlone suggested that this category could gain relative importance over time.

However, many market participants disagree with the broader bearish thesis. They emphasize Bitcoin’s fixed supply, decentralized design, and growing integration into traditional finance as key strengths that continue to support long-term demand.

Short-term downside risks remain part of Bitcoin’s cycle, especially in periods of tightening liquidity. Even so, institutional adoption, ETF flows, and its role as a non-sovereign asset continue to underpin a constructive long-term outlook despite ongoing volatility.