Key Highlights: Analyst Mike McGlone warns that Bitcoin’s high-yielding days are over as its volatility drops to near-gold levels while still lagging behind major stock indices like the S&P 500. Key technical levels to watch include significant support around $60,000 and strong resistance near $98,000, with broader US equity trends posing potential downside risk. Market ...
Key Highlights Bloomberg ETF analyst Eric Balchunas identifies a generational shift driving Bitcoin ETF interest, with younger investors favoring cryptocurrency over traditional assets like gold. Despite current low trading volume across the broader crypto market, Bitcoin ETF discussions signal growing institutional confidence and potential reshaping of investment strategies. Market participants are monitoring potential new Bitcoin ...
Bloomberg Intelligence senior commodities strategist Mike McGlone has warned that elevated equity valuations and expectations of further Federal Reserve interest rate hikes are generating strong sell signals for Bitcoin. Bitcoin’s Risk-Adjusted Returns Under Scrutiny McGlone noted that Bitcoin’s performance over the past five years has roughly matched the S&P 500 index, but with approximately three ...