Mike McGlone to Bitcoin: Stay Above $75K or It's Back to the $10K Dungeon

Bloomberg Intelligence senior commodities strategist Mike McGlone has dropped a not-so-subtle hot take for Bitcoin in 2026, and the vibe is less "moon" and more "pray." The analyst warned that the leading cryptocurrency could face a brutal correction if it fails to hold its current levels, putting it plainly: "Prove me wrong; Bitcoin must stay above $75,000." Nothing like a good old-fashioned ultimatum to get the degens sweating.

McGlone pointed to Bitcoin's historical price behavior as a potential roadmap for what's coming—because nothing says "trust me, bro" like looking at charts from half a decade ago. He reminded folks that Bitcoin cozyed up to the $10,000 level for a considerable stretch before the massive liquidity boom of 2020–2021, suggesting a return to those levels shouldn't be dismissed. He also noted that after futures trading launched in 2017, the $10,000 mark became one of Bitcoin's most actively traded price ranges. So basically, we've been here before, and we might be visiting again.

The competitive crypto landscape is also weighing on Bitcoin, according to McGlone. With millions of digital assets now in existence, he argues only a tiny fraction carry tangible value—which is a fancy way of saying most alts are basically digital beanie babies. Meanwhile, dollar-backed stablecoins are standing out as one of the sector's most enduring trends, because apparently people still like money that doesn't crash 20% on a Tuesday.

McGlone predicted the ongoing "flippening" dynamics will keep shifting, with Tether's total asset size potentially surpassing Ethereum in 2026 and even Bitcoin down the road. Yes, you read that right: the meme coin of all stablecoins might flex on the second-largest crypto by market cap. Key drivers include potential equity market pullbacks and renewed volatility spikes—music to every permabull's ears.

The analyst also suggested Bitcoin could log its first consecutive annual declines in 2026, which he says could signal a broader market transformation. In other words, prepare for the narrative flip of the century: from "HODL forever" to "I told you so."

*This is not investment advice.