Bloomberg warns Bitcoin could drop to $10,000 if US stocks fall 20%

Bitcoin may decline to $10,000 if the US stock market faces a 20% correction, according to Mike McGlone, senior macro strategist at Bloomberg Intelligence. McGlone suggests the cryptocurrency’s recent weakness could serve as an early signal of wider financial-market stress. In a post published on October 16, McGlone highlighted Bitcoin’s retreat from its 2025 peak above $100,000, alongside higher government bond yields and tighter monetary policy. He stated that these trends could signal a potential reversal across risk assets. McGlone’s scenario would represent a roughly 88% decline from the cryptocurrency’s recent trading level of around $82,000. However, he emphasized that this outcome depends on a significant US equities selloff, not as a confirmed forecast that Bitcoin will hit that price.

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