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

McGlone noted that the current downturn of Bitcoin and Ethereum indicates a negative year that risky assets in the United States may experience.

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

McGlone tweeted that Bitcoin's drop below $80,000 and Ethereum's drop below the $2,000 level may indicate a "mutual weakness in the performance of historically high-risk American assets."

McGlone expects "commodity prices generally to return to their lowest levels in decades compared to 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 high value. Since McGlone believes that cryptocurrencies and U.S. stocks move in tandem, ...28549675666