A prominent financial analyst from Bloomberg has issued a stark warning regarding Bitcoin's future trajectory, suggesting a possible decline to the $10,000 mark. This cautionary outlook is rooted in the current market's striking resemblance to the tumultuous conditions observed in 2018, which saw a dramatic collapse in Bitcoin's value.
Analyst Highlights Key Factors Driving Potential Downturn
On November 19, 2025, during a segment on Bloomberg TV, market expert Mike McGlone elaborated on his concerns. He drew direct parallels between the present Bitcoin market and the significant unwinding events of 2018, when the cryptocurrency's price plummeted from approximately $10,000 to nearly $3,000. McGlone posits that a continued pressure on risk assets across the broader financial landscape could trigger a similar dramatic fall, pushing Bitcoin's value down to $10,000.
Several factors underpin this gloomy forecast. McGlone pointed to an expanding supply of tokens, the influx of late-cycle exchange-traded fund (ETF) investments, and a weakening global macroeconomic environment as critical vulnerabilities. These elements, he argues, combine to create a fragile market susceptible to a sharp downturn. He also highlighted key volatility indicators, such as the VIX index hovering near its 200-day average, and the S&P 500's realized volatility dipping to levels last seen in 2017. These signals collectively suggest a brewing turbulence that could extend its reach into equity markets, further dampening Bitcoin's prospects. According to McGlone, there appears to be no clear catalyst on the horizon capable of halting Bitcoin's downward momentum.
Furthermore, McGlone noted a shift in crucial price levels. He identified $100,000 as a new resistance zone, a level Bitcoin struggled to maintain earlier in the month. The cryptocurrency is now caught between $90,000 and $100,000, with a potential breakdown toward $50,000 if market conditions worsen. The rollover in Bitcoin's 200-day moving average serves as a critical indicator, a trend also mirrored by Strategy's 200-day average in August, reinforcing the broader bearish sentiment. The Bloomberg Galaxy Crypto Index, despite an initial rebound, has seen a 14% decrease this year.
From a technical analysis perspective, Bitcoin is currently trading below its year-long ascending trendline and all significant moving averages. A recent attempt to recover toward $100,000 quickly faltered, showcasing the aggressive selling pressure at what was once a support level. The Relative Strength Index (RSI) is hovering near 29, indicating oversold conditions but not necessarily a reversal. The next substantial demand zone is anticipated to be between $86,000 and $82,000. For any hope of slowing the decline, buyers would need to reclaim the $95,000 level. Failure to do so could lead to another leg down, pushing Bitcoin toward even deeper support levels.
The potential for Bitcoin to experience such a dramatic fall underscores the inherent volatility and risks associated with cryptocurrency investments. Investors are reminded of the importance of thorough research and caution, particularly when market conditions echo past periods of significant corrections. The current environment calls for a prudent approach, emphasizing risk management and a clear understanding of the macroeconomic factors influencing digital assets.