Bitcoin Could Fall to $50,000 by 2026, Bloomberg’s Mike McGlone Warns of 60% Drop from $126K Peak

Market watchers flagged a potential material downside for Bitcoin in 2026, tethered to macro risk and equity volatility. In a Bloomberg Intelligence note, Mike McGlone, the firm’s Senior Commodity Strategist, outlined a bear-case path where BTC could slip toward $50,000 if the S&P 500 trends lower. The scenario signals a shift to a risk-off regime where traditional assets rally and liquidity tightens, potentially dampening appetite for high-beta digital assets.

The analysis ties Bitcoin’s near-term trajectory to macro drivers: a pivot higher in gold, softer oil, and persistent equity volatility. McGlone suggests BTC may behave as a risk-off asset in a stressed macro backdrop, though a sustained equity recovery and looser liquidity could help it re-rate. Investors should treat the outlook as conditional and monitor cross-asset signals to gauge whether BTC can sustain any meaningful upside or remain pressured.