Bitcoin: The 80,000 Dollar Threshold Becomes Decisive, According to Bloomberg

The cryptocurrency market is approaching a new observation point, while traditional assets are holding up better. Mike McGlone, senior commodity strategist at Bloomberg Intelligence, warns of a possible inflection. According to him, the performance of bitcoin against U.S. Treasury bonds could weigh on several markets. The 80,000 dollar threshold notably draws his attention. A prolonged weakness below this level could exacerbate difficulties in the sector. In a recent post on X, Mike McGlone described a potential turning point. He believes a retreat of crypto against Treasury securities could have widespread consequences. His analysis therefore goes beyond just the digital assets market. It also concerns the relationship between risky investments and U.S. public bonds. To support his scenario, the analyst compares two exchange-traded funds.

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