Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Bitcoin Flash Crash Triggers $550M in Sunday Liquidations as Ether Rotation Builds

25/08/2025

Custodia Bank CEO warns of TradFi firms facing first crypto winter

25/08/2025

Crucial New Measures Target Russian Networks

25/08/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Bitcoin Flash Crash Triggers $550M in Sunday Liquidations as Ether Rotation Builds

    25/08/2025

    Could Ethereum Really Flip Bitcoin Within a Year?

    23/08/2025

    BitMine’s ETH Holdings Near $5B After Latest Purchase; BMNR Tops Big Names in Trading Volume

    23/08/2025

    Tom Lee’s Ethereum treasury BitMine tops 1 million ETH worth nearly $5 billion

    23/08/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    24/08/2025

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    23/08/2025

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    23/08/2025

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    22/08/2025

    Bitcoin Flash Crash Triggers $550M in Sunday Liquidations as Ether Rotation Builds

    25/08/2025

    Custodia Bank CEO warns of TradFi firms facing first crypto winter

    25/08/2025

    Crucial New Measures Target Russian Networks

    25/08/2025

    Asia Pacific Advances RWA Tokenization in 2025

    25/08/2025
  • Blockchain

    Optimism Taps Flashbots to Supercharge OP Stack Sequencing

    25/08/2025

    Block Street brings $10m liquidity push for tokenized stocks on BNB Chain

    25/08/2025

    Users Can Connect to Uniswap, Aave, Opensea via Trezor Suite

    25/08/2025

    Unlocking Private Investments for Everyone

    25/08/2025

    State Street Expands Custody to Tokenized Debt on JPMorgan’s Blockchain Platform

    24/08/2025
  • DeFi

    US Treasury’s DeFi ID plan is ‘like putting cameras in every living room’

    25/08/2025

    Layer-1 leaders poised for a post-Biden comeback

    25/08/2025

    AAVE Leads Top 40 Cryptocurrencies With 19% Surge in One Day — Here’s What’s Driving It

    24/08/2025

    Bitcoin Liquid Staking Gains Momentum as Lombard Launches BARD Token and Foundation

    24/08/2025

    Wormhole Tops LayerZero With 120M USDC DeFi Acquisition

    24/08/2025
  • Metaverse

    Meta Breaks Up AI Lab as Part of Superintelligence Push

    20/08/2025

    The Sandbox Game Maker: Unleashing Revolutionary Metaverse Experiences

    07/08/2025

    Where Has the Metaverse Gone? Examining a Failed (and Costly) Trend

    01/08/2025

    From Metaverse to Machine Learning, Inside Meta’s $72 Billion AI Gamble

    31/07/2025

    AntVerse Integrates Terminus to Transform AI-Powered Metaverse with Web3 Payments

    25/07/2025
  • Regulation

    Custodia Bank CEO warns of TradFi firms facing first crypto winter

    25/08/2025

    Asia Pacific Advances RWA Tokenization in 2025

    25/08/2025

    Rising Fed rate chatter may be a red flag for crypto: Santiment

    25/08/2025

    Billionaire Stanley Druckenmiller Abruptly Dumps Tesla, Piles $335,306,000 Into Bank of America, Citigroup, Goldman Sachs and Two Other Stocks

    25/08/2025

    What Powell’s Speech Signals for Rates, Inflation and Assets

    25/08/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    OKX Introduces PI/USDC Pair—Will It Boost Liquidity or Fuel Further Decline?

    25/08/2025

    Binance Futures Announces Listing of a New Altcoin Trading Pair! Here Are the Details

    25/08/2025

    Unlocking Seamless Trading on Solana’s Platform

    25/08/2025

    Unlock Exciting New Trading Opportunities

    25/08/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    ‘Some Studios Won’t Survive’ as AI Takes Over Gaming, Says Google Cloud Exec

    24/08/2025

    Crypto Gaming Handheld Shipments Delayed Over ‘Excessive’ Import Duties

    22/08/2025

    Google Unveils Pixel 10 Lineup With AI Features, New Watch and Earbuds

    21/08/2025

    Immutable & Koin Games Unveil Fast-Paced, Collector-Driven Project O

    20/08/2025

    Bitcoin Mining Faces ‘Incredibly Difficult’ Market as Power Becomes the Real Currency

    24/08/2025

    Bitcoin miner Foundry hits 0.07% jackpot mining eight consecutive BTC blocks

    23/08/2025

    Nasdaq-listed Bitdeer unveiled plans to expand its U.S. crypto mining rig manufacturing operations

    21/08/2025

    ‘US tariffs on mining rigs are rising sharply’ as CleanSpark, IREN report massive liabilities

    21/08/2025

    Crucial New Measures Target Russian Networks

    25/08/2025

    Market Structure Bill Will Be Before President Trump by Thanksgiving, Says Sen. Lummis

    25/08/2025

    US Treasury Seeking ‘Innovative Methods’ to Detect Illicit Crypto Activity

    25/08/2025

    Stablecoins Should Not Be Exempt From New York Crypto Tax, Lawmaker Says

    25/08/2025

    Bitcoin Flash Crash Triggers $550M in Sunday Liquidations as Ether Rotation Builds

    25/08/2025

    Custodia Bank CEO warns of TradFi firms facing first crypto winter

    25/08/2025

    Crucial New Measures Target Russian Networks

    25/08/2025

    Asia Pacific Advances RWA Tokenization in 2025

    25/08/2025
  • MarketCap
NBTC News
Home»Bitcoin»Will Bitcoin Price Crash To $10,000? Bloomberg Expert Reveals When
Bitcoin

Will Bitcoin Price Crash To $10,000? Bloomberg Expert Reveals When

NBTCBy NBTC04/10/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Many analysts have weighed on the potential trajectory of the flagship cryptocurrency, Bitcoin. This time, Bloomberg analyst Mike McGlone has highlighted the possibility of Bitcoin price declining further and when this could happen.

Bitcoin Price Could Decline Further

In a tweet on his X (formerly Twitter) platform, McGlone noted that Bitcoin risks declining to $10,000 (which could happen by year-end) as it continues to battle the $30,000 resistance level. 

This resistance level has long been touted as the key to a sustained breakout in Bitcoin’s price. However, going by the analysis that McGlone shared, the odds seem to be against this happening. 

Bitcoin has risen significantly in 2023, considering that the crypto asset traded at around $16,000 at the beginning of the year. But, McGlone warned that this may be a “short-covering rally.”

As part of this analysis, he noted that liquidity in the Bitcoin ecosystem remained negative heading into the fourth quarter. This ultimately means there is more selling pressure than buying pressure, which could affect Bitcoin’s price. 

Another factor is the rising interest rates. McGlone noted that Bitcoin gained prominence in a “zero interest-rate world” with greater financial freedom. But now, Bitcoin (alongside other cryptocurrencies) might continue to endure a hangover as “global rates continue to rise.” 

Global inflation is said to be on the rise, and to curb it, authorities are raising interest rates, which could restrict spending and, by extension, the liquidity that goes into the crypto market. 

Meanwhile, the analysis noted Bitcoin’s importance in the grand scheme of things. Bloomberg Intelligence drew a correlation between the FED fund futures and Bitcoin’s price. According to projections, Bitcoin needs to decline further before there can be a liquidity reversal in those funds. 

While the Federal Reserve may not care about Bitcoin, he stated that Bitcoin’s “24/7-traded, leading indicator status could be gaining traction.”

BTC could fall to $10,000 | Source: X

The Fate Of The Broader Crypto Market

In another tweet, McGlone noted that cryptocurrencies “might be leaning into recession.” To drive home this point, he highlighted the relation between the crypto and stock market and stated that the latter could succumb to an “ebbing tide” suppose the stock market were to experience a “typical drawdown” due to a recession. 

Despite the “broader on-and-of-again fluctuations,” this projection is said to be reflected in the “downward trajectory” of the Bloomberg Galaxy Crypto Index (BGCI) and Russell 2000 Index (RTY) from their all-time highs in 2022. Both markets have remained tepid and continue to consolidate as they anticipate a “catalyst” that could spark a price surge. 

This analysis is similar to that of crypto analyst Nicholas Merten, who, while drawing out the direct relation between both markets, noted that if the stocks of big tech companies like Apple and Microsoft don’t start picking up, there could be a “really big problem” for the crypto market. 

Bitcoin price chart from Tradingview.com (BTC price $10,000 Bloomberg expert)

BTC price still holding above $27,000 | Source: BTCUSD on Tradingview.com

Featured image from Investor’s Business Daily, chart from Tradingview.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Price Breaks All-Time High Record Again – Here’s What We Know

04/08/2025

Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

04/08/2025

Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

04/08/2025

High-Stakes Consolidation Could Define Q3 Trend

04/08/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Bitcoin Flash Crash Triggers $550M in Sunday Liquidations as Ether Rotation Builds

25/08/2025

Custodia Bank CEO warns of TradFi firms facing first crypto winter

25/08/2025

Crucial New Measures Target Russian Networks

25/08/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.