Mike McGlone, a Senior Commodity Strategist at Bloomberg Intelligence, recently shared a provocative perspective on Bitcoin’s current state. In a post on X, he suggested that Bitcoin might be overheating when viewed alongside broader financial market trends.
Discrepancies in Gold and Oil Markets Signal Caution for Bitcoin
McGlone pointed out that Bitcoin may have reached its peak as investors increasingly turn to gold for safety. He highlighted that in 2025, gold prices soared by 65%, surpassing $4,000 per ounce as investors sought protection against risks such as inflation and economic slowdown.
Conversely, oil prices dropped sharply by about 20%, settling near $60 per barrel due to weak demand and an oversupply glut. McGlone described this divergence between gold and oil—the largest ever recorded within a single year under similar conditions—as highly significant.
“Stocks too Hot, or Commodities Too Cold?
The 85% gap between rising gold and falling crude oil in 2025 was unprecedented during a year when Bitcoin may have peaked. Is this an alert or just noise? My inclination is toward the former.
Full report available on Bloomberg here:… pic.twitter.com/5rMcTmsEWN”— Mike McGlone (@mikemcglone11) January 16, 2026
The strategist noted historical patterns where surges in safe-haven assets like gold often precede struggles for riskier assets such as Bitcoin. This suggests that the current strength of Bitcoin might not hold up given these market dynamics.
He further warned that asset valuations appear distorted under present conditions and hinted at an impending correction. According to McGlone’s analysis, Bitcoin is susceptible to price declines after becoming overheated.
Adding to the cautionary voices is Peter Schiff—a long-time skeptic of Bitcoin—who also predicts potential crashes ahead. As reported by U.Today, Schiff advised holders of the cryptocurrency to consider selling before another downturn occurs.
It’s worth noting that back in October 2025, Bitcoin experienced rapid gains reaching an all-time high of $126,198.07 but has since endured steep drops down to around $84,000 over the past month alone. Despite occasional rebounds suggesting bullish momentum attempts remain unfulfilled below the psychologically important $100K threshold.
A More Optimistic Outlook from Matt Hougan
At press time today, Bitcoin was trading at approximately $95,076—a slight decline of nearly one percent over twenty-four hours—with intraday fluctuations ranging between roughly $95K-$97K before settling near its current value.
The trading volume has decreased significantly by almost twenty-five percent down to about $43.8 billion following miners’ increased sell-offs. This drop raises concerns among some traders regarding sustained selling pressure if volumes stay low coupled with repeated rejections around the $96K mark.
Despite these challenges, Bitcoin retains dominance over other cryptocurrencies with a market share hovering near sixty percent (59.17%). This indicates continued investor preference towards BTC rather than alternative coins.
If BTC manages stability above approximately $93K, it could regain upward momentum aiming once again for its elusive target near $100 thousand dollars.
Matter-of-factly, Matt Hougan from Bitwise projects strong growth ahead for bitcoin similar to what gold experienced during its historic rallies. He argues sustained demand through exchange-traded funds could trigger parabolic price movements soon enough.
Mike McGlone, a Senior Commodity Strategist at Bloomberg Intelligence, recently shared a provocative perspective on Bitcoin’s current state. In a post on X, he suggested that Bitcoin might be overheating when viewed alongside broader financial market trends.
Discrepancies in Gold and Oil Markets Signal Caution for Bitcoin
McGlone pointed out that Bitcoin may have reached its peak as investors increasingly turn to gold for safety. He highlighted that in 2025,€€&;gold prices soared by 65%,&;surpassing €&;4&comma000 per ounce as investors sought protection against risks such as inflation and economic slowdown.
Conversely,oillprices dropped sharplybyabout20%,settlingnear€.60perbarreldueweakeemandandoversupplyglut.McGlnedescribedthisdivergencebetweengoldandoil—thelargesteverrecordedwithinasingleyearundersimilarconditions—-ashighlysignificant.
“"Stocks too Hot ,or Commodities Too Cold ? <br /> ; The85%gapbetweenrisinggoldandfallingcrudeoilin2025wasunprecedentedduringayearwhenBitcoinnayhavepeaked.Isthisanalertorjustnoise?Myinclinationistowardtheformer . <br /> ; FullreportavailableonBloomberghere : …pic.twitter.com/5rMcTmsEWN""
— Mike McGloine (@mikemcgloine11)January16 ,2026
The strategist noted historical patterns where surges insafe-havenassetslikegoldoftenprecedestrugglesforriskierassetssuchasBitcoin.ThissuggeststhatthecurrentstrengthofBitcoinnightnotholdundergthesemarktdynamics.
He further warnedthatassetvaluationsappeardistortedunderpresentconditionsandhintedanimpendingcorrection.AccordingtoMcGloaneanalysis,Bitcoinissusceptibletopricedeclinesafterbecomingoverheated.
AddingtothecautionaryvoicesisPeterSchiff&aLongtimeskepticofBitcoin&wopredictspotentialcrashesahead.AsreportedbyU.Today,Schiadvisedholdersofthecryptocurrencytoconsidersellingbeforeanotherdownturnoccurs.
It&sworthnotingthatbackinOctober20252025,Bitcoinexperiencedrapidgainsreachinganalltimehighof$12619807but hassinceenduredsteepdropsdowntoaround$84000overthepastmonthalone.Despiteoccasionalreboundssuggestingbullishmomentumattemptsremainunfulfilledbelowthepsychologicallyimportant$100kthreshold.
A More Optimistic Outlook from Matt Hougan
At presstime today,Bitonwastradingatapproximately$95076aslightdeclinenearlyoneypercentovertwentyfourhourswithintradayfluctuationsrangngbetweenroughly$95k-$97kbeforesettlingnearitcurrentvalue
The trading volumehasdecreasedsignificantlybyalmosttwentyfivepercentdowntoabout$438billionfollowingminers’increasedselloffs.Thisdroraisesconcernsamongsometradersregardsustainedsellingpressureifvolumesstaylowcoupledwithrepeatedrejectionsaroundthe96kmark.
Despitetesechallanges,
Bito retainsdominanceoverothercryptocurrencieswithamarketsharehoverinnear sixtypersent(5917).ThisindicatescontinuedinvestorpreferencetowardsBTCratherthanalternativecoins
IfBTCmanagesstabilityaboveapproximately93k,itcouldregainupwardmomentumaimingonceagainforitselusivetargetnear100thousanddollars.
Matter-offactly,
MattHouganfromBitwiseprojectsstronggrowthaheadforbitcoinsimilartowhatgoldexperiencedduringitshistoricrallies.Hearguessustaineddemandthroughexchange-tradedfundscouldtriggerparabolicpricemovementsoonenough.