BlockBeats News, October 17: Bloomberg senior commodity strategist Mike McGlone wrote yesterday that if U.S. stocks pull back 20%, Bitcoin could head toward the $10,000 support level. “Since 2009, the first cryptocurrency to emerge (BTC) has led the rally in risk assets. But Bitcoin reaching a peak above $100,000 in 2025, gold rising above $5,000 in the first quarter, and most central banks turning cautious amid surging government bond yields may signal the endgame.”

Crypto analyst Darkfost pushed back, arguing that even a 20% pullback in U.S. stocks would have no historical precedent that could correspond to BTC falling around 92% from its peak. He therefore considers this price target “highly unlikely.”