{"id":155378,"date":"2025-04-23T20:00:24","date_gmt":"2025-04-23T17:00:24","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=155378"},"modified":"2025-04-23T18:57:37","modified_gmt":"2025-04-23T15:57:37","slug":"bitcoin-breakdown-incoming-bloomberg-analyst-predicts-downtrend-ahead","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-breakdown-incoming-bloomberg-analyst-predicts-downtrend-ahead\/","title":{"rendered":"Bitcoin Breakdown Incoming? Bloomberg Analyst Predicts Downtrend Ahead"},"content":{"rendered":"<p>He <strong><a href=\"https:\/\/x.com\/mikemcglone11\/status\/1914977694132879583?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1914977694132879583%7Ctwgr%5E866eda9bcac90a1a57781320abfbcaf6a02bd509%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2Fbitcoin-and-dogecoin-show-similar-big-trend-bearish-bloombergs-mike-mcglone\" target=\"_blank\" rel=\"nofollow\">believes<\/a><\/strong> that while both cryptocurrencies are currently holding their trendline supports, these levels are unlikely to hold much longer, and a deeper correction may be imminent.<\/p>\n<p>In his recent market analysis, McGlone presented a comparative chart highlighting the synchronized movement between Dogecoin and what he referred to as the \u201cBitcoin\/gold cross\u201d\u2014a custom Bloomberg metric likely designed to track the correlation between Bitcoin and gold.<\/p>\n<p>According to McGlone, the mirrored chart patterns between these two assets could be a warning sign of broader market vulnerability. He noted that the current price action is more indicative of a bear market bounce\u2014a short-term recovery before another drop\u2014than the beginning of a sustained bull market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-74425\" src=\"https:\/\/coindoo.com\/wp-content\/uploads\/2025\/04\/GpNcQTCWIAASMZU.jpeg\" alt=\"\" width=\"781\" height=\"490\"><\/p>\n<h2>Bitcoin\u2019s Correlation With Stock Market Grows<\/h2>\n<p>McGlone\u2019s cautious outlook is rooted in his belief that Bitcoin remains strongly correlated with traditional financial markets, particularly major indices like the S&amp;P 500, Nasdaq, and Dow Jones. With these markets showing signs of recessionary pressure, he warned that Bitcoin could soon follow in their downward trajectory.<\/p>\n<p>He emphasized that while the current technical support levels are still intact, macroeconomic challenges\u2014such as weakening equities and tightening financial conditions\u2014suggest that Bitcoin and other cryptocurrencies may soon break down.<\/p>\n<p>McGlone described the current rally as temporary and maintained that a significant price correction remains more likely than a full recovery in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Veteran Bloomberg Intelligence strategist Mike McGlone has reiterated his bearish stance on Bitcoin, adding Dogecoin (DOGE) to the list of assets showing signs of weakness.<\/p>\n","protected":false},"author":7,"featured_media":145973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-155378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Breakdown Incoming? 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