Bitcoin Faces Fresh Warning as McGlone Flags Possible Drop to $10K

Bitcoin slipped to $76,000 after Binance suffered a $6.3 billion hack. Altcoins followed lower, and attention is also turning to today’s US midterm elections.

Bloomberg Intelligence’s Mike McGlone told The Wolf Of All Streets podcast that several assets, bitcoin and gold included, may have already topped out. Bitcoin’s break below its 50-week moving average, he said, signals real weakness ahead.

McGlone stressed that crypto still moves with stocks. A 20 % correction in US equities could push bitcoin down to $10,000, while oil might fall to $50 a barrel and gold to $3,000 an ounce.

Based on information from cryptonews.net