Bitcoin Analysts Split on Whether a Steep Drop or Fresh Rally Lies Ahead

Mike McGlone at Bloomberg Intelligence has reiterated his bearish call. He argues Bitcoin could slide toward the 10,000-dollar mark if U.S. equities fall 20 percent, pointing to 5 percent yields on five-year Treasuries as stiff competition for non-yielding assets.

Ki Young Ju, CEO of CryptoQuant, pushed back hard. He noted that spot ETFs have already pulled in 58 billion dollars and corporate treasuries hold 1.3 million BTC, implying a data-driven floor near 30,000 dollars. At 10,000 dollars the MVRV ratio would sink to 0.2, well below the historical low of 0.6.

Jurrien Timmer at Fidelity sees the opposite picture. Patterns based on the power law suggest a new four-year bull cycle may be starting, even if the usual early signals are still missing.

McGlone has been repeating the 10,000-dollar warning since 2023 and suggested checking the outcome in a year.

Based on information from cryptonews.net