#BTC #

Bloomberg analyst predicts 88% drop for Bitcoin amid massive sell-off in the stock market

Mike McGlone, senior analyst at Bloomberg, stated this week that Bitcoin could plummet 88% amid a massive sell-off

Bloomberg analyst predicts 88% drop for Bitcoin amid massive sell-off in the stock market

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Mike McGlone, senior analyst at Bloomberg, stated this week that Bitcoin could plummet 88% amid a massive sell-off in the stock markets and the migration of investors to gold. In posts on platform X, he highlighted that the digital asset could fall to $10,000, repeating historical patterns of financial crises.

“$BTC was born in 2009, during the bottom of the stock market, and led a historic rise in risk assets. Now, the scenario may reverse,” McGlone wrote, followed by 66,900 users. According to him, gold has already surpassed BTC's performance in 2025, appreciating by 15% in the year, while the cryptocurrency has accumulated losses.

BlackRock now owns over 567,000 $BTC , valued at over $47 billion

The risk trajectory, according to the expert, is directly linked to the S&P 500. “A 6% decline in the index could accelerate Bitcoin's drop,” he warned.