Bloomberg strategist McGlone says Bitcoin’s bear market may signal further declines in stocks and gold.
He noted that Bitcoin’s 50-week moving average is trending downward, and gold also faces the risk of falling. Gold’s current volatility is about 2.2 times the S&P 500’s annualized volatility, the highest level since 2007. He believes Bitcoin’s bear market may signal a mean reversion in S&P 500 volatility, bringing it closer to its usual 1:1 relationship with gold.
· This is McGlone’s assessment based on historical analogies and moving averages, reflecting his personal opinion rather than a confirmed trend.
· The claim that Trump’s shift in position helped him win re-election in 2024 is McGlone’s characterization.
Would you look first at Bitcoin’s 50-week moving average or the volatility ratio between gold and the S&P 500?
He noted that Bitcoin’s 50-week moving average is trending downward, and gold also faces the risk of falling. Gold’s current volatility is about 2.2 times the S&P 500’s annualized volatility, the highest level since 2007. He believes Bitcoin’s bear market may signal a mean reversion in S&P 500 volatility, bringing it closer to its usual 1:1 relationship with gold.
· This is McGlone’s assessment based on historical analogies and moving averages, reflecting his personal opinion rather than a confirmed trend.
· The claim that Trump’s shift in position helped him win re-election in 2024 is McGlone’s characterization.
Would you look first at Bitcoin’s 50-week moving average or the volatility ratio between gold and the S&P 500?
