Bloomberg Intelligence senior commodities strategist Mike McGlone has made a noteworthy price prediction for Bitcoin (BTC) in 2026.
McGlone stated that the leading cryptocurrency could face a sharp correction if it fails to maintain its current levels, saying, “Prove me wrong; Bitcoin must stay above $75,000.”
According to McGlone, Bitcoin’s historical price behavior may point to a downward scenario in the current cycle. The analyst recalled that Bitcoin’s price traded around $10,000 for an extended period before the massive liquidity expansion of 2020–2021, arguing that the possibility of the market returning to a similar level should not be ignored. He also noted that after the launch of futures trading in 2017, the $10,000 level became one of the most actively traded price ranges for Bitcoin.
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McGlone argued that increasing competition in the crypto market is also putting pressure on Bitcoin, noting that there are millions of digital assets today. According to the analyst, only a small fraction of these assets can be associated with tangible value, while dollar-backed stablecoins stand out as one of the most enduring trends in the sector. In this context, it is stated that the increase in the size of assets under management, such as Tether, is reshaping market dynamics.
McGlone predicted that the power balance shift, known as “flippening,” will continue, suggesting that Tether’s total asset size could surpass Ethereum in 2026 and even Bitcoin in the long term. Key factors behind this scenario include the expectation of a potential pullback in equity markets and a renewed increase in volatility.
The analyst also suggested that Bitcoin could experience its first consecutive annual declines in 2026, noting that this could be an early signal of a broader market transformation.
*This is not investment advice.
