Bloomberg Analyst: Still Expects Bitcoin to Fall to $50,000, Caution Against Shorting if Rebound Nears $100,000

BlockBeats News, February 2nd, Bloomberg Intelligence's Senior Commodity Strategist Mike McGlone stated that as silver and Bitcoin revert to $50 per ounce and $50,000, respectively, a key variable may be the gradual return of stock market volatility. Until volatility normalizes, initiating new risk-on positions in assets may not be prudent, especially given the evolving nature of President Trump's policies. If silver breaks above $100 or Bitcoin approaches $100,000, a cautious short stance may be a reasonable option.

Reportedly, Mike McGlone's bearish view on Bitcoin became notably persistent towards the end of 2025 and early 2026. Around November 2025, he began openly predicting that Bitcoin could drop to $50,000 in 2026 (a roughly 60% decline from the then-all-time high).