Bitcoin Faces Critical Turning Point Against US Treasury Bonds, Bloomberg Says

Bloomberg Intelligence senior commodity strategist Mike McGlone believes that a critical inflection point for Bitcoin (BTC) versus US Treasury bonds could mean a crash for the broader cryptocurrency market. In a recent post on X, McGlone cautioned that Bitcoin’s ongoing underperformance against US government bonds may have major implications for other asset classes. “Bitcoin may be backing down at a key inflection point vs. US Treasury bonds, with broad implications for all assets,” McGlone wrote. According to the Bloomberg strategist, $80,000 is a key price level for Bitcoin.