Senior strategist at Bloomberg Intelligence Mike McGlone stated that Bitcoin could drop to $50 000 due to a combination of macroeconomic factors.

He noted that the decline of Bitcoin against gold is accelerating, indicating a structural shift towards more defensive positions.
Against the backdrop of gold reaching historical highs and attracting flows, the weaker dynamics of Bitcoin amplify the downward inertia. This increases the likelihood of a retest of the long-term level $50 000 and potentially an even deeper decline if the trend continues. One of the key concerns is the low volatility of the stock market and the general shift of investors into more defensive assets. According to the strategist, stock markets remain relatively calm, but this stability may mask more serious issues.
McGloon's analysis shows: historically, the S&P 500 has often mirrored Bitcoin's movements when it fell below the 50-week moving average. Currently, both Bitcoin and the S&P 500 are below these key levels, signaling an increase in risks for major asset classes.