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Crypto

McGlone Warns: Bitcoin Faces Crucial Test Below $64K

Guavy AI Editorial Team
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BTC
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Bitcoin (BTC) dropped below $64,000 and is approaching a critical stretch as investors weigh factors such as a crowded earnings calendar, Federal Reserve policy, and inflation data.

BTC Faces $70,000 Test

Bloomberg strategist Mike McGlone warned that any weakness in equities could send Bitcoin below $50,000. He cautioned against the bottoming thesis, saying 'Respect the bear,' as he believes Bitcoin remains firmly in a bear market after falling roughly 50% from its record high.

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