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Bloomberg Intelligence strategist expects bitcoin sell-off through year end
Mike McGlone said bitcoin's failure to hold $80,000 and copper below $6.40 a pound could signal a broader sell-off lasting to the end of the year.
Key takeaways
- Mike McGlone is a senior strategist at Bloomberg Intelligence.
- He said bitcoin's failure to hold the $80,000 level may signal a sell-off.
- He also pointed to copper trading below $6.40 per pound.
- The expectation covers the period through the end of the year.
- Bits.media reported the comments on 9 November 2026.
The forecast
Bitcoin's failure to hold the $80,000 level, together with copper trading below $6.40 per pound, could signal a large sell-off in both assets that runs until the end of the year, according to Mike McGlone, a senior strategist at Bloomberg Intelligence.
Bits.media reported the comments on 9 November 2026. The report presented the two price levels as signals the analyst is watching, and the view as an expectation for the coming weeks rather than a statement about prices already recorded.
Bloomberg Intelligence is the research arm of Bloomberg L.P. McGlone's view is a forecast, and the report did not present it as a certainty.
What the report leaves open
The report gave no target price for bitcoin and no date more specific than the end of the year. It did not explain how a move in copper would relate to a move in bitcoin, or whether other analysts at Bloomberg Intelligence share the view.
It also did not say where or when McGlone made the comments, and it carried no response from exchanges, funds or other market participants.
Bitcoin's price at the time of the report was not given, so the distance between the $80,000 level and the market at the time of writing cannot be checked against the source.
Sources
1 reportThis article was prepared by BattleTown Newsroom from the reports listed above.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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