Bloomberg Senior Analyst Drops Bombshell, Suggests Bitcoin Long-Term Equilibrium Price of $10,000

April 6th: Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said Bitcoin could drop to around $10,000—its long-term equilibrium level—if it fails to hold above $75,000. McGlone noted $75,000 is a critical technical and psychological threshold: breaking above it would invalidate his bearish outlook, while failing to do so could extend Bitcoin’s downward trend. He added Bitcoin traded around $10,000 for years before 2020, and that level has been a key trading zone since Bitcoin futures launched in 2017. Additionally, potential stock market turmoil and reduced volatility could push Bitcoin to post its first consecutive annual decline by 2026, he said—“This may be a harbinger of future trends.” His comments drew criticism from Bitcoin supporters, who dismissed the predictions as unrealistic and questioned the accuracy of his past extreme calls. In 2018, McGlone forecast Bitcoin would fall to $1,100; its actual low that year was $3,000. Between 2023 and 2025, he repeatedly issued bearish signals, including forecasts that Bitcoin would struggle to hit new highs or face sharp pullbacks.