Bitcoin Plunges 8.5% as Gold Gains Momentum: McGlone’s Warning to Investors

Bitcoin’s sharp decline contrasts with gold’s rally, prompting Bloomberg strategist Mike McGlone to question asset allocation strategies. As the crypto market stumbles, investors face renewed uncertainty about long-term trends.

Bitcoin Price Drops by 8.5%: Bloomberg’s McGlone Warns as Gold Rises and Crypto Falls!

Bloomberg’s senior commodity strategist, Mike McGlone, has warned investors about the market trends. He highlights gold’s growing strength as it challenges the dominance of traditional stocks. Meanwhile, Bitcoin, the world’s largest cryptocurrency, experiences a sharp decline, plunging 8.5% to $77,470. McGlone questions if investors are choosing the right assets or if they’re betting on the wrong assets at the wrong time.

Bitcoin Bear Market Could Last at Least Six Months: CryptoQuant CEO

CryptoQuant CEO Ki Young Ju predicts that Bitcoin could remain in a bear market for at least six months. On-chain data shows a lack of price movement despite rising capital inflows. Bitcoin fell to a three-week low of $77,077 in April. Ju pointed out how the current bear market condition is reflected in on-chain metrics like market cap and realized cap, indicating that although capital is entering the market, prices are not reacting.

U.S. Agencies Face Monday Deadline to Report Crypto Holdings to Treasury

The U.S. government is approaching a crucial deadline for federal agencies to report their Bitcoin and other crypto holdings to the Treasury Secretary by Monday. This follows a March 6 executive order from former President Donald Trump. As global markets fluctuate and crypto prices swing, this move could significantly impact future crypto strategies in the U.S.

Markets Are Crashing Amid Tariff Tensions; Bitcoin Plummets

Fresh tariff tensions between the United States and China have sent shockwaves through global markets, leading to one of the most volatile weeks for Bitcoin and other cryptocurrencies. Prices plummeted sharply, mirroring the steep declines in traditional stock markets, particularly after President Donald Trump reintroduced aggressive global tariffs. The sell-off was widespread, with Asian markets hitting hard, including Tokyo’s Nikkei 225 plunging nearly 8%. Traders are on edge, wondering if the sudden Bitcoin price correction could spiral into a full-blown market crash.

Tariff-Sensitive Australian Dollar Offers Hope to Bitcoin Bulls

Roughly 10 weeks ago, CoinDesk discussed a double top bearish reversal pattern in Bitcoin (BTC), warning of a sell-off to $75,000. On Monday, the price dropped below that level as escalating trade tensions cratered financial markets, sending Dow Jones Industrial Average futures lower by 900 points. According to technical analysis theory, the BTC sell-off could find support between $70K and $75K. Additionally, the Australian dollar (AUD), a commodity currency sensitive to global trade tensions, has recovered slightly, offering hope to crypto bulls.