{"id":78115,"date":"2026-09-13T18:07:05","date_gmt":"2026-09-13T18:07:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/mcglone-warns-spx-pullback-could-send-bitcoin-price-to-10k-bitcoin-news\/"},"modified":"2026-09-13T18:07:05","modified_gmt":"2026-09-13T18:07:05","slug":"mcglone-warns-spx-pullback-could-send-bitcoin-price-to-10k-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/mcglone-warns-spx-pullback-could-send-bitcoin-price-to-10k-bitcoin-news\/","title":{"rendered":"McGlone Warns SPX Pullback Could Send Bitcoin Price to $10K \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bloomberg\u2019s Mike McGlone warned bitcoin faces $80K resistance, threatening a major price pullback.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Expected Fed rate hikes and overvalued stocks could pull high-beta bitcoin down with equities.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">McGlone predicted BTC could plunge to $10,000 if the SPX falls 20%, serving as a risk-asset warning.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Bloomberg\u2019s McGlone: Bitcoin\u2019s \u2018A Dud,\u2019 \u2018Beta\u2019<\/h2>\n<p>While the cryptocurrency market enjoyed one of its finest Augusts ever, with Bitcoin prices <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-price-holds-above-78-5k-as-august-gains-near-25\/\">jumping nearly 25%<\/a>, some believe $80K might be a tough wall to overcome.<\/p>\n<p>Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said bitcoin could fall after this growth. McGlone stressed that bitcoin was still considered <strong>\u201ca highly volatile and speculative digital asset, correlated with the stock market and now burdened by being beta for millions of crypto companions,\u201d <\/strong>even when the currency has recently shown a <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/bitcoin-gold-correlation-six-year-high-bitwise-hougan\/\">strong correlation with reserve assets like gold.<\/a><\/p>\n<figure id=\"attachment_847239\" aria-describedby=\"caption-attachment-847239\" style=\"width:1280px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-847239\" class=\"wp-caption-text\">Bitcoin sell signals chart. Source: Mike McGlone\u2019s X account.<\/figcaption><\/figure>\n<p><a href=\"https:\/\/x.com\/mikemcglone11\/status\/2099081230201328114?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">On social media<\/a>, the analyst commented that bitcoin\u2019s performance roughly matched the SPX during the last five years, but with volatility three times higher. <strong>\u201cBy the rules of risk and portfolio management \u2014 that\u2019s a dud,\u201d<\/strong> he declared.<\/p>\n<p>McGlone mentioned three key reasons that might draw Bitcoin\u2019s price lower: the surge of the $80K level as resistance, the <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/goldman-fed-rate-hike-september-bitcoin-golden-cross\/\">pricing of 0.70% in hikes<\/a> by Fed funds futures for the next year, and the high valuation of the SPX compared to its 200-week moving average.<\/p>\n<p><strong>\u201cBitcoin fits into my stock-puppet category due to its high correlation with the SPX, especially when beta declines, and its position as the first cryptocurrency now competing with millions of others,\u201d<\/strong> he stated.<\/p>\n<p>McGlone calls stock puppets all assets deeply correlated to the SPX, including gold and other precious metals, bitcoin, and bond yields, that would inevitably tumble down in a potential market drop given the stretched valuations of public companies.<\/p>\n<p>Nonetheless, if McGlone is right, bitcoin might act as a leading indicator for so-called \u201crisk assets,\u201d as he vaticinates that the prime cryptocurrency might be on a route to reach a historic $10,000 key level, prompted by a 20% drop in the SPX.<\/p>\n<p><strong>\u201cProving that scenario wrong may require the crypto to sustain divergent strength,\u201d<\/strong> McGlone concluded.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/crypto-news\/mcglone-warns-spx-pullback-could-send-bitcoin-price-to-10k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bloomberg\u2019s Mike McGlone warned bitcoin faces $80K resistance, threatening a major price pullback. Expected Fed rate hikes and overvalued stocks could pull high-beta bitcoin down with equities. McGlone predicted BTC could plunge to $10,000 if the SPX falls 20%, serving as a risk-asset warning. Bloomberg\u2019s McGlone: [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":78116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78115"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78115"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78116"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}