Here’s how Bitcoin will drop to $40,000, according to commodity strategist
Bloomberg senior commodity strategist Mike McGlone has warned that Bitcoin (BTC) could potentially fall to $40,000 despite currently trading above $100,000. McGlone tied his bearish outlook to broader macroeconomic trends, particularly the risk of deflation and a long-delayed recession that could weigh heavily on risk assets like Bitcoin, he said in an X post on June 3. He pointed to a recent peak in the Bitcoin-to-gold ratio in May, suggesting it may have topped out, especially if U.S. equity markets begin to decline. Bitcoin to gold ratio. Source: Bloomberg Intelligence “Bitcoin $40,000, Gold $4,000; Inflation vs. Deflation, Recession – The languishing price of Bitcoin vs. gold in 2025 may reflect anticipation of a typical cycle where deflation follows inflation,” he said. The ratio, which recently hovered around 33, could narrow significantly if gold strengthens and Bitcoin weakens, a scenario McGlone views as increasingly likely. Wh...