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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...

In a development that very few had seen coming, the US stock market has jumped yet again as the S&P 500 looks set to erase all of its 2025 losses so far. Volatility has been the prevailing theme of the year so far, with the markets rebounding in a big way this week. The question is, can it continue its recent run? The surge that Wall Street has enjoyed has been a major benefit to some of the biggest stocks available. Indeed, the Magnificent 7 have bounced back in a major way, with Nvidia (NVDA) leading the charge, rising almost 6% over the course of trading on Tuesday. Source: Reuters / Brendan McDermid Also Read: Tesla (TSLA) Gets 70% Upside, But It Hinges on One $1.7T Market S&P 500 Returns to Form as US Stock Market Continues Its Bounce Back With the arrival of US President Donald Trump’s ‘Liberation Day’ tariff plan, the countries’ financial markets began to plummet. Specifically, the America-first, protectionist policy saw the Dow Jones Index fall ...

Fidelity’s head of macro suggests that the end of the Fed’s quantitative tightening policy could be bullish for Bitcoin and gold. The United States Federal Reserve began its most aggressive quantitative tightening efforts in March 2022, raising benchmark Interest Rates in the year since from near-zero to 4.75% to 5% annually. While the central bank has successfully brought down inflation to some degree, the increasing Interest Rates are starting to cause cracks in the global banking industry. The market expects the Fed to end quantitative tightening and provide favorable liquidity conditions to avoid a global financial crisis as the banks begin to fail. The shift in the Fed’s policy should have significant implications for financial assets. Jurrien Timmer, the director of global macro at Fidelity, discussed the likely impact of the Fed’s dovish pivot on stocks, gold and Bitcoin. Market expects the Fed to put an end to interest rate hikes The Fed is largely expected to either maintain ...