- Will Bitcoin lead the next recession?
- Is $10,000 in the cards?
Mike McGlone, Bloomberg Intelligence’s senior commodity strategist with over 25 years in futures trading, argues Bitcoin’s year-end 2025 price below $84,000 could signal risk-off sentiment across stocks and commodities.
He believes that the leading cryptocurrency is more likely to end 2025 below the aforementioned level than above $94,000.
Will Bitcoin lead the next recession?
McGlone’s bearish outlook on Bitcoin and broader risk assets emerges as a consistent thread across his commentary over the past month.
It is rooted in a confluence of mean-reversion pressures and historical parallels to past downturns.
So far, McGlone’s anti-Bitcoin bet has been playing out nicely, with the flagship coin vastly underperforming gold.
The Bloomberg analyst views Bitcoin as harbingers of post-inflation deflation.
He repeatedly frames the crypto king as a high-beta leader poised to drag the S&P 500 and other speculative assets lower.
The Federal Reserve’s easing cycle has failed to stem its slide, which echoes the 2007 stock market peak. Back then, the initial rate cuts preceded a 50% plunge.
As reported by U.Today, McGlone recently predicted that BTC could actually lead the next recession.
Is $10,000 in the cards?
He has recently predicted that Bitcoin (BTC) could fall back to $10,000 under a severe “bear‑case” scenario.
Such an extremely bearish scenario will be possible if macroeconomic stress and structural weakness in crypto continue.
Of course, it should be noted that this is just the “worst- case” scenario.
However, McGlone does see BTC plunging to $50,000 amid weakening sentiment as a realistic scenario.