Bloomberg Strategist Repeats $10,000 Bitcoin Call, Sparking Industry Debate

Since the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs in January 2024, institutional flows and macroeconomic liquidity have had a more direct influence on the cryptocurrency's price. Bloomberg strategist Mike McGlone believes the market is still deleveraging. His $10,000 forecast has drawn particular attention because it implies a potentially steep decline from current levels.

As of July 19, 2026, McGlone again said Bitcoin could still fall below $10,000 unless it reclaimed $75,000, and advocated selling into rallies during a bear market. Several industry analysts pushed back, saying such a severe decline was highly unlikely unless there were a nuclear war, a global internet outage or a broad liquidity crisis.