Bitcoin Loses Its Edge, Warns Bloomberg Strategist McGlone

Bitcoin’s once-attractive risk-reward profile has largely vanished, according to Bloomberg Intelligence’s Mike McGlone. Annual volatility now sits just 1.1–1.2 times that of gold, down sharply from the eightfold gap seen in earlier cycles.

The cryptocurrency is moving in lockstep with equities yet delivering weaker returns. Year-to-date it is down roughly 14 percent while the S&P 500 has gained about 11 percent. Trading near 74 845 dollars, McGlone sees the 60 000-dollar mark as key support and 98 000 dollars as stiff resistance.

Without a decisive break from stock-market direction, he expects limited upside and possible further weakness through 2026. Professional investors, he argues, now have little reason to favor bitcoin over conventional indexes.

Based on information from cryptonews.net