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Bloomberg warns Bitcoin could drop to $10,000 amid fading hype and macro pressures.

Market News
16 Aug 2026, 18:55 WIB
UToday
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Bearish
Bloomberg warns Bitcoin could drop to $10,000 amid fading hype and macro pressures.

Bloomberg Intelligence strategist Mike McGlone updated his Bitcoin outlook, warning that the cryptocurrency risks a significant price correction down to around $10,000. Despite stock markets hitting record highs, Bitcoin has struggled to maintain gains above $69,000, signaling a deflating speculative bubble. McGlone attributes past rallies to temporary artificial stimuli like cheap liquidity and regulatory optimism, both of which have now faded. With ETF inflows drying up and macroeconomic forces turning, Bitcoin's price may revert to its historical average from 2019-2020, pressured further by an oversupply of alternative tokens in the market.

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