Bloomberg Strategist McGlone: $60,000 Bitcoin Bottom 'Unlikely'
- —McGlone called a bottom forming at $60,000 'unlikely'
- —US 10-year Treasury yields moved above 5% in Q3
- —He drew a parallel to WTI crude's 2008 break above $100
- —The strategist sees the real bottom near $10,000
Why it matters: A call from one of the most widely followed macro strategists reinforces a bearish narrative and could temper institutional appetite during the current rally.
Source: U.Today