The increasing selling pressure and weakening investor confidence in the cryptocurrency market in recent weeks are also being reflected in the pronouncements of prominent analysts. Bloomberg senior analyst Mike McGlone issued a stark warning in his assessment of Bitcoin’s current position.
Analyst and fund manager James Lavish summarised the market mood, saying:
Sentiment towards Bitcoin appears to be at an all-time low. Long-term investors have sold over 400,000 BTC in the last month alone. Despite this, the price is still above $100,000.
However, McGlone responded by saying that this level may not be maintained for long. According to the Bloomberg analyst, Bitcoin is losing critical technical levels:
“In my opinion, Bitcoin won’t stay above $100,000 for long. BTC opened below the 200-day moving average in the US morning hours on Monday, November 3rd. This level is now a strong resistance level around $110,000. Bitcoin could wake up below $100,000 on Monday, November 10th.”
McGlone highlighted not just Bitcoin but the entire crypto market. He noted that Strategy crashed, while the Bloomberg Galaxy Crypto Index is down 1 percent through 2025, the S&P 500 is up nearly 16 percent.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-predictions-from-bloomberg-analyst-mcglone-by-monday-morning/