$BTC ABOVE $86K, BUT $60K IS STILL ON THE TABLE?
Bitcoin is back above $86K, but the bigger picture is not as simple as it looks.
Bloomberg Intelligence strategist Mike McGlone has warned that Bitcoin could still face a sharp reversal if macro pressure increases.
Here’s what matters:
• US 10Y Treasury yields are moving close to 5%
• Higher yields can make traditional investments more attractive to institutions
• A major S&P 500 correction could also put pressure on Bitcoin
• McGlone sees a wide range between $100K and a possible move toward $60K
The idea is simple: when an asset moves too high too quickly, demand can eventually slow down.
Bitcoin may be recovering right now, but macro conditions are still something we cannot ignore.
Would you be comfortable holding $BTC if $60K became the next major target?
Bitcoin is back above $86K, but the bigger picture is not as simple as it looks.
Bloomberg Intelligence strategist Mike McGlone has warned that Bitcoin could still face a sharp reversal if macro pressure increases.
Here’s what matters:
• US 10Y Treasury yields are moving close to 5%
• Higher yields can make traditional investments more attractive to institutions
• A major S&P 500 correction could also put pressure on Bitcoin
• McGlone sees a wide range between $100K and a possible move toward $60K
The idea is simple: when an asset moves too high too quickly, demand can eventually slow down.
Bitcoin may be recovering right now, but macro conditions are still something we cannot ignore.
Would you be comfortable holding $BTC if $60K became the next major target?
