The post Bitcoin must retake $75,000 or risk annihilation to $10,000, analyst says appeared on BitcoinEthereumNews.com.

A familiar voice is back with a familiar, and controversial, call on bitcoin BTC$69,021.39. Mike McGlone, senior commodity strategist for Bloomberg Intelligence, is reiterating that bitcoin could crash to $10,000. But this time, he’s framed it with a very clear line in the sand: $75,000. If bitcoin decisively reclaims and holds that level, the bearish thesis breaks. If it can’t, McGlone’s view is that the path of least resistance is sharply lower, with prices falling all the way to $10,000, the level last seen in early 2020. The $10,000 magnet McGlone’s uber bearish forecast of a crash to $10,000 isn’t new. It’s been circling for weeks, and it is based more on market structure than short-term catalysts. The cryptocurrency spent a long stretch hovering around $10,000 before the massive wave of fiat liquidity hit the markets following the coronavirus-induced 2020 crash. That era of zero rates, stimulus checks and aggressive liquidity easing by central banks torched unprecedented risk-taking across all corners of the financial markets. It played a major role in lifting BTC permanently above $10,000. “Before the biggest money pump in history in 2020-21, Bitcoin hovered around $10,000, and it may be reverting. Roughly $10,000 is also the first-born crypto’s most traded price since 2017, when futures were launched,” McGlone noted on LinkedIn. With that era of abundant liquidity now behind us, McGlone suggests that bitcoin may revert to what he considers its equilibrium price — around $10,000. According to him, $10,000 has been the most heavily traded price zone since 2017, when the CME futures began trading. In other words, $10,000 isn’t just a round number — it’s where a huge amount of historical volume sits. McGlone also points to the crypto market’s explosive growth as a potential drag on bitcoin. In 2017, bitcoin largely defined the space,…

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Filed under: News - @ April 6, 2026 4:23 am