Markets· ★★★· bearish·

Bloomberg Strategist McGlone Warns Bitcoin Is Flashing 2018-Style Crash Signal

  • —McGlone flagged the weakening 50-week moving average as a bearish signal for BTC
  • —He floated a drop to $10,000 if the US stock market corrects 20%
  • —The strategist tied the risk to expectations of Fed rate hikes in October
  • —BTC traded near $82,729, up 1% on the day
Why it matters: The warning reinforces bearish sentiment amid weak spot demand and casts doubt on Bitcoin's rebound near $82,000.
#BTC
Source: ZyCrypto
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