BroadChain has learned that on March 12, Bloomberg Intelligence's Senior Commodities Strategist Mike McGlone reiterated his bearish stance, suggesting Bitcoin could still fall below $10,000 amid a broader macro-driven correction in risk assets.
However, several market analysts have challenged this view. They argue that for Bitcoin to plummet from its current level around $70,000 to $10,000 would require an extreme shock—such as a global liquidity crisis.
Other analysts anticipate Bitcoin may trade sideways in the $60,000–$70,000 range in the near term. They note that even a brief rally to $80,000 could be unsustainable, potentially leading to a new accumulation zone between $30,000 and $40,000.