The David Lin Report ‘Peak Bubble’: Bitcoin To ‘Lose A Zero’, Drop To $10k Says Bloomberg Strategist | Mike McGlone
Sep 2, 2025
Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, shares his bold predictions about the financial markets. He foresees Bitcoin potentially dropping to $10,000 amidst an impending market bubble. McGlone discusses the rising gold-oil ratio as a signal of economic downturn and analyzes how gold can act as a protective asset against inflation. He also explores trends in commodity markets and the implications of Fed policies on investor behavior, making for a thrilling and insightful conversation!
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Bitcoin As A Risk-On Beta
- Bitcoin now behaves like a risk-on asset highly correlated with the S&P 500 over recent years.
- That correlation implies Bitcoin will fall if the US stock market retreats and volatility rises.
Trim Crypto When Everyone's Yelling
- Avoid buy-and-hold conviction in cryptocurrencies when broad adoption and speculative supply are expanding.
- Trim exposure when sentiment becomes euphoric and mainstream actors pile in.
Gold-Oil Ratio Signaling Slowdown
- Gold-to-oil ratio spike signals potential economic slowdown and favors higher gold prices.
- McGlone sees gold heading toward $4,000 while crude may trend back toward $40/barrel.