Bloomberg Analyst: Still expect Bitcoin to fall to $50,000; if it rebounds close to $100,000, caution should be exercised when shorting.

BlockBeats News, February 2 — Bloomberg Intelligence senior commodity strategist Mike McGlone stated that during the process of silver and Bitcoin returning to $50 per ounce and $50,000 respectively, there may be a key variable — a mild rebound in stock market volatility. Before volatility normalizes, opening new long positions in risk assets may not be wise, especially considering the unpredictability of President Trump’s policies. If silver breaks above $100 or Bitcoin approaches $100,000, cautious shorting could be a reasonable choice.

It is reported that Mike McGlone’s bearish stance on Bitcoin became very clear and sustained mainly from late 2025 to early 2026. Around November 2025, he began publicly predicting that Bitcoin could drop to $50,000 in 2026 (a significant decline of about 60% from its then-high).