Bloomberg analyst Mike McGlone warns Bitcoin could fall toward $10,000 if U.S. stocks drop 20%

Bloomberg Intelligence senior commodity strategist Mike McGlone has repeatedly forecast Bitcoin could decline to $10,000 if U.S. stocks fall 20%, citing tighter central bank policy and rising bond yields as contributing factors. As of October 18, 2026, Bitcoin trades near $82,000, roughly 35% below its all-time high of about $126,080 set in early October 2025. Critics, including CryptoQuant founder Ki Young Ju, argue institutional demand from spot ETFs and treasury companies could prevent such a deep decline, pointing to on-chain cost basis suggesting a floor near $30,000.