Bloomberg analyst McGlone: Bitcoin is a 'stock market puppet' and could fall to $10,000
- —McGlone says Bitcoin tracks US equities but with far larger swings
- —He sticks to his long-held call for a decline to $10,000
- —10-year Treasury yields are roughly 10 times higher than in 2020
- —Bitcoin has lagged the S&P 500 over five years on a risk-adjusted basis
Why it matters: A bearish call from Bloomberg adds to cautious sentiment as traders await US inflation data.
Source: Crypto Insiders
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