Following an extended phase of stability, Bitcoin (BTC) has finally surpassed the $90,000 barrier and seems ready to surge towards a six-figure valuation. Despite this optimistic momentum, Bloomberg Intelligence’s Senior Commodity Strategist Mike McGlone has issued a rather pessimistic forecast for the leading cryptocurrency.
The Gold Rally as a Harbinger of Trouble for Risk Assets
McGlone notably cautions that Bitcoin might experience a steep decline back to around $50,000 by 2026 during what he describes as an inevitable market correction. This level is viewed as a critical long-term support zone for BTC.
He contends that Bitcoin can only avoid such a significant downturn if stock markets remain stable and calm throughout this period.
According to McGlone, Bitcoin’s price trajectory is intricately tied to fluctuations in equity markets and the recent robust performance of gold. Essentially, prolonged instability in stocks could negatively impact Bitcoin’s value.
He predicts that Bitcoin will likely mirror the volatility seen in other risk assets. In particular, he pointed out how gold “grabbed alpha” in 2025—meaning it outperformed many other investments significantly—echoing its behavior from 1979.
This historical context is important because nearly five decades ago gold surged ahead just before major economic turmoil characterized by inflation and recession took hold globally. McGlone interprets gold’s strong showing in 2025 as an early warning sign about challenging market conditions expected in 2026.
Bitcoin May Visit $50,000 Support in 2026 –
A prerequisite for Bitcoin to avoid reverting toward its enduring pivot near $50,000 in 2026 may be stock-market volatility staying buried. Gold grabbing alpha in 2025 at the greatest pace since 1979 could signal market risk reversion… pic.twitter.com/fuR1Jly3vI— Mike McGlone (@mikemcglone11) January 7, 2026
He further believes traditional assets might retreat back toward more conservative valuations soon—and when they do so sharply—that downturn could drag down Bitcoin along with them.
“Never before has the store of value rallied at such magnitude with equity volatility so low,” McGlone remarked highlighting this unusual dynamic between gold gains and calm stock markets.
On the contrary though, some analysts offer bullish perspectives forecasting that institutional indicators suggest a potential rise up to $196,000.
Bitcoin Dips Below $94K Amid ETF Outflows Resuming
The strategist implied that historically when gold rallies strongly while equities remain quiet temporarily—the setup tends not to last long. Given how well gold performed through last year (2025), it appears conventional financial instruments are bracing themselves for upcoming turbulence; if volatility returns soon stocks may suffer losses accordingly.
This environment would create ideal conditions triggering another reset pushing BTC prices down close toward $50K again unless equity market stability persists uninterruptedly into next year.
Currently trading around $92,136.48, bitcoin saw its price drop roughly by 1.76% over twenty-four hours. The coin slid from daily highs near $94,395.30 after failing repeatedly at resistance levels near $94,500, catalyzing selling pressure across crypto exchanges.
The trading volume meanwhile increased almost twenty-five percent reaching approximately $55.96 billion despite ongoing outflows observed within U.s.-based spot bitcoin ETFs—a reversal from prior inflow surges witnessed recently within these funds.