McGlone Warns SPX Pullback Could Send Bitcoin Price to $10K
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stressed that high stock prices and upcoming interest rate hikes suggest bitcoin’s price may retrace meaningfully to $10,000, serving as a leading indicator of a risk-asset drawdown. Bloomberg’s McGlone: Bitcoin’s ‘A Dud,’ ‘Beta’ While the cryptocurrency market enjoyed one of its finest Augusts ever, with Bitcoin prices […]
Key Takeaways
- Mike McGlone, senior commodity strategist at Bloomberg Intelligence, stressed that high stock prices and upcoming interest rate hikes suggest bitcoin’s price may retrace meaningfully to $10,000, serving as a leading indicator of a risk-asset drawdown.
- Bloomberg’s McGlone: Bitcoin’s ‘A Dud,’ ‘Beta’ While the cryptocurrency market enjoyed one of its finest Augusts ever, with Bitcoin prices […]
- Read the full article for additional context and details.
Summary generated by IndiCrypto from News.Bitcoin.com. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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