Mike McGlone said that Bitcoin’s split from a record-setting S&P 500 is flashing a major risk signal. In his X post, the Bloomberg Intelligence strategist pointed to a path back toward $10,000 if the decoupling reflects broader crypto weakness.
What Stops Bitcoin Reversion Toward $10,000? Failing vs. Stocks
On the way down from around $10,000 in 2018, Bitcoin appeared as if it could lose a zero. The low came near $3,000. From above $100,000 last year, I saw similar signs of reversion. Now, among millions of… pic.twitter.com/bYZ6aTFrgw
— Mike McGlone (@mikemcglone11) June 1, 2026
The warning affects traders watching whether Bitcoin is still behaving like a high-beta risk asset or breaking away from equities for the wrong reason. McGlone’s chart-based view treats the gap with stocks as a bearish reversion signal rather than a safe-haven milestone.
The next point to watch is whether Bitcoin can invalidate that setup with stronger price action. For now, the $10,000 level remains McGlone’s downside scenario, not a confirmed outcome or consensus market target.
Source: Mike McGlone official X account.
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.
![Trade[XYZ] secured an S&P 500 license to launch the first and only officially licensed S&P 500 perpetual on Hyperliquid.](https://crypto-economy.com//wp-content/uploads/2026/03/TradeXYZ-Secures-SP-500-License-300x169.jpg)
