⚠️ Bloomberg Intelligence warns that Bitcoin could plunge to around $10,000 if U.S. stocks (S&P 500) fall 20%. The warning was issued on Oct. 16 by Mike McGlone, senior macro strategist at Bloomberg Intelligence.
McGlone previously correctly identified the Bitcoin cycle reversal after it peaked above $100,000 in 2025.
📉 In McGlone’s scenario, a 20% drop in the S&P 500 would trigger a chain reaction, dragging Bitcoin down to its foundational support level of $10,000 and wiping out nearly all of its gains over the past several years.
Still, there is a silver lining: actual correlation data shows the link between Bitcoin and stocks is weakening (down from 62% to 40%), and Bitcoin’s historic crashes have been getting smaller with each cycle.
👉 So the million-dollar question is: when will the S&P 500 fall by as much as 20%?
#crypto #bitcoin
McGlone previously correctly identified the Bitcoin cycle reversal after it peaked above $100,000 in 2025.
📉 In McGlone’s scenario, a 20% drop in the S&P 500 would trigger a chain reaction, dragging Bitcoin down to its foundational support level of $10,000 and wiping out nearly all of its gains over the past several years.
Still, there is a silver lining: actual correlation data shows the link between Bitcoin and stocks is weakening (down from 62% to 40%), and Bitcoin’s historic crashes have been getting smaller with each cycle.
👉 So the million-dollar question is: when will the S&P 500 fall by as much as 20%?
#crypto #bitcoin