Bloomberg senior analyst makes a surprising statement, claims the long-term equilibrium price of bitcoin is $10,000

BlockBeats news, on April 6, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone stated that if Bitcoin fails to regain and hold above $75,000, its price may fall back to around $10,000, which he believes is the long-term equilibrium price.

McGlone pointed out that $75,000 is a key technical and psychological threshold; if broken effectively, his bearish view would become invalid, otherwise the price may continue its downward trend. McGlone further stated that before 2020, Bitcoin fluctuated around $10,000 for a long period, and that price has also been an important area of intense trading since Bitcoin futures were launched in 2017. On the other hand, potential stock market turmoil and a decline in volatility could lead Bitcoin to experience its first-ever consecutive yearly drop in 2026. "This may indicate the trend for the future."

McGlone's remarks sparked criticism from Bitcoin supporters, who argued that his predictions are disconnected from reality, with many citing his past extreme forecasts to question their accuracy. For example, McGlone predicted in 2018 that Bitcoin would fall to $1,100, but the actual low was $3,000. Additionally, he has repeatedly issued bearish signals during 2023-2025, such as predicting Bitcoin would struggle to reach new highs or would see significant pullbacks.