Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, shared his opinion on social media about the forecasts that the markets may face later this year, as leading cryptocurrencies, Bitcoin and Ethereum, continue to decline sharply.

McGlone noted that the current decline of Bitcoin and Ethereum suggests a negative year for risky assets in the United States.

McGlone expects a decline in the U.S. stock market and risky assets.

McGlone tweeted that Bitcoin falling below $80,000 and Ethereum dropping below $2,000 could indicate the emergence of "mutual weakness in the performance of historically high-risk U.S. assets."

McGlone anticipates "a return of commodity prices generally to their lowest levels in decades against the U.S. stock market." He added that the stock market reached the end of 2024 "at its highest level ever compared to the rest of the world’s markets," given its elevated value. Since McGlone believes that cryptocurrencies and U.S. stocks move in tandem, ...35278572429