Bloomberg analyst Mike McGlone warned that Bitcoin may revisit $50,000 in 2026, citing a persistent gold rally and slowing BTC liquidity.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
3 mins read
Bloomberg’s commodity strategist, Mike McGlone, made a strong bearish prediction for Bitcoin BTC $90 280 24h volatility: 0.8% Market cap: $1.80 T Vol. 24h: $44.89 B , forecasting a price crash to $50,000. Meanwhile, the gold rally shows no signs of stopping.
After a phenomenal 60% upside last year in 2025, gold has continued its upward move in 2026.
The rally in the yellow metal continues while liquidity in Bitcoin has been drying up fast.
In his latest post on the X platform, Bloomberg commodity strategist Mike McGlone said that the BTC price could revisit the $50,000 level in 2026.
https://twitter.com/mikemcglone11/status/2008869429845602322
This comes as the largest crypto asset has faced consistent selling pressure, dropping once again below $90,000 earlier today.
McGlone said continued stability in equity markets could prevent Bitcoin from sliding toward $50,000, but any stock volatility may pressure risk assets, including BTC.
He highlighted gold’s exceptional 2025 performance, its fastest alpha capture since 1979, as a potential warning for crypto markets.
In December, McGlone warned Bitcoin could crash up to 90% and trade near $10,000 due to rising competition from other digital assets.
Bitcoin’s price is currently trading about 30% below its October record high of $126,000, despite a supportive macroeconomic backdrop that includes the U.S. Federal Reserve cutting interest rates to their lowest level in three years.
CryptoQuant CEO Ki Young Ju recently shared that capital flows into Bitcoin are drying up fast. He stated that BTC could potentially be entering a prolonged period of consolidation.
Ju noted that liquidity channels for Bitcoin are now far more diversified than in previous cycles, making the timing of inflows less relevant.
He added that long-term institutional holders have disrupted the traditional whale-to-retail selling dynamic.
Capital inflows into Bitcoin have dried up.
Liquidity channels are more diverse now, so timing inflows is pointless. Institutions holding long-term killed the old whale-retail sell cycle. MSTR won't dump any significant chunk of their 673k BTC.
Money just rotated to stocks and… pic.twitter.com/Ha866TP857
— Ki Young Ju (@ki_young_ju) January 8, 2026
On the other hand, he believes that Bitcoin treasury firms like Strategy are unlikely to liquidate any meaningful portion of their Bitcoin reserves.
Ju added that capital has instead moved toward equities and commodities, including precious metals like gold and silver.
He does not expect a steep drawdown of more than 50% from Bitcoin’s all-time highs, as seen in past bear markets.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
