Bitcoin and Gold Drop in Tandem, Prompting Warning from Bloomberg Strategist

Bitcoin and gold have slipped at the same time, a rare move that is prompting traders to look beyond routine explanations. Since the start of 2026 the leading cryptocurrency has fallen 7.3 percent and trades below 80,000 dollars, while gold is down 7.5 percent near the 4,000-dollar level.

Bloomberg senior commodity strategist Mike McGlone argues that elevated bond yields are cooling appetite for risk assets and could end the long bull runs in both bitcoin and precious metals. He still sees a path to 10,000 dollars for bitcoin, and warns that a 20 percent correction in U.S. stocks would intensify selling pressure.

Other participants in the discussion pointed to bitcoin’s rising hashrate and continued institutional interest. They believe that even in a broad market downturn the cryptocurrency is unlikely to fall below 60,000 dollars and that its longer-term upside remains intact.

Near-term moves will hinge on Federal Reserve decisions, possible cooling of AI investments, liquidity strains and the upcoming U.S. midterm elections.

Based on information from cryptonews.net