From $10K doom to $28K doubt.
By Maxime Laurent · 2026-02-20 10:23
From $10K doom to $28K doubt.
Bloomberg’s Mike McGlone softens his $BTC crash call — but stays skeptical.
Markets don’t just move. Narratives move with them.
Mike McGlone from Bloomberg Intelligence has revised his previous call that $BTC could fall to $10,000.
After criticism and pushback, he adjusted the downside “target” to around $28,000.
That’s… a significant difference.
Earlier, he framed the potential collapse as part of a broader cycle unwind — macro tightening, risk asset cooling, speculative excess getting flushed. A classic “stress test” for crypto.
Now, the tone is softer — but still cautious.
And here’s what I find interesting:
When prominent analysts lower extreme bearish targets upward, it often reflects changing market structure, not just social pressure.
Think about it.
The $10K scenario implied:
– Severe liquidity contraction
– Major institutional exit
– Deep global risk-off environment
But today’s crypto landscape includes:
– Spot ETFs
– Corporate treasuries holding $BTC
– Nation-state mining strategies
– More mature derivatives markets
That doesn’t make Bitcoin immune.
It just makes 2026 structurally different from 2018.
Macro still matters. If global markets cool aggressively, speculative assets feel it first. $BTC is still correlated to liquidity cycles. Anyone pretending otherwise is ignoring history.
But here’s my personal take, sitting by the Mediterranean with the wind calm and charts open:
Bearish narratives get attention.
Extremely bearish narratives get headlines.
But markets rarely follow linear predictions.
They overshoot. Both ways.
From $69K to $15K once felt like the end.
Now $28K is called a stress test.
Perspective is everything.
And in crypto, conviction is built in volatility — not in consensus forecasts.
On verra bien. 🌊🔥
#Bitcoin #BTC #Bloomberg #Markets #Crypto #Macro
Bloomberg’s Mike McGlone softens his $BTC crash call — but stays skeptical.
Markets don’t just move. Narratives move with them.
Mike McGlone from Bloomberg Intelligence has revised his previous call that $BTC could fall to $10,000.
After criticism and pushback, he adjusted the downside “target” to around $28,000.
That’s… a significant difference.
Earlier, he framed the potential collapse as part of a broader cycle unwind — macro tightening, risk asset cooling, speculative excess getting flushed. A classic “stress test” for crypto.
Now, the tone is softer — but still cautious.
And here’s what I find interesting:
When prominent analysts lower extreme bearish targets upward, it often reflects changing market structure, not just social pressure.
Think about it.
The $10K scenario implied:
– Severe liquidity contraction
– Major institutional exit
– Deep global risk-off environment
But today’s crypto landscape includes:
– Spot ETFs
– Corporate treasuries holding $BTC
– Nation-state mining strategies
– More mature derivatives markets
That doesn’t make Bitcoin immune.
It just makes 2026 structurally different from 2018.
Macro still matters. If global markets cool aggressively, speculative assets feel it first. $BTC is still correlated to liquidity cycles. Anyone pretending otherwise is ignoring history.
But here’s my personal take, sitting by the Mediterranean with the wind calm and charts open:
Bearish narratives get attention.
Extremely bearish narratives get headlines.
But markets rarely follow linear predictions.
They overshoot. Both ways.
From $69K to $15K once felt like the end.
Now $28K is called a stress test.
Perspective is everything.
And in crypto, conviction is built in volatility — not in consensus forecasts.
On verra bien. 🌊🔥
#Bitcoin #BTC #Bloomberg #Markets #Crypto #Macro
Disclaimer: This content is for informational purposes only and not financial advice.