Here’s how Bitcoin will drop to $40,000, according to commodity strategist

Bloomberg senior commodity strategist Mike McGlone has warned that Bitcoin (BTC) could potentially fall to $40,000 despite currently trading above $100,000. McGlone tied his bearish outlook to broader macroeconomic trends, particularly the risk of deflation and a long-delayed recession that could weigh heavily on risk assets like Bitcoin, he said in an X post on June 3. He pointed to a recent peak in the Bitcoin-to-gold ratio in May, suggesting it may have topped out, especially if U.S source: https://finbold.com/heres-how-bitcoin-will-drop-to-40000-according-to-commodity-strategist/