Bitcoin Poised to Retest $50,000 as BTC/Gold Ratio Targets 13x, Bloomberg’s Mike McGlone Warns of Further Downside
BTC/USDT
$5,893,102,060.79
$67,284.00 / $65,766.10
Change: $1,517.90 (2.31%)
-0.0007%
Shorts pay
COINOTAG News reports that Bloomberg Intelligence Senior Commodity Strategist Mike McGlone posted on social media that Bitcoin could retest the $50,000 level, while the Bitcoin-to-Gold ratio may compress toward 13x as risk sentiment shifts.
Bloomberg’s framework suggests the BTC-to-Gold ratio was near 20x on December 1, with fair value closer to 13x. The dynamic is being driven by a decline in S&P 500 120-day volatility, which has approached its lowest year-end level since 2017, signaling a tightening backdrop for risk assets.
Traders should monitor macro liquidity and equity moves; a continued squeeze in volatility and weaker stock performance could weigh on Bitcoin, shaping a prudent Bitcoin price outlook grounded in data and credible signals.