# Bitcoin Price Forecasts Clash Between Bloomberg and Cryptoquant Analysts debate whether Bitcoin faces a $10,000 collapse or a $30,000 floor. - **Source:** [Bitcoin News](https://brifing.si/source/d8aeaf1e-9839-4dad-9d25-7a6bf3fbeef8) - **Published:** 2026-10-17 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/561026f3-e704-459c-bc84-b1c99b92e7e4 ## Bloomberg Predicts Sharp Correction Bloomberg Intelligence strategist Mike McGlone recently projected that Bitcoin could revert to $10,000. This bearish outlook hinges on a potential 20% drawdown in the U.S. stock market. McGlone cites rising government bond yields and central bank restraint as primary catalysts for this decline, suggesting that non-income-producing assets face significant competitive pressure. ## Cryptoquant Challenges Bearish Thesis Ki Young Ju, CEO of Cryptoquant, publicly rejected the $10,000 target, arguing that the onchain floor is closer to $30,000. He points to $58 billion in ETF inflows and the 1.3 million BTC held by treasury companies as foundational support. These institutional holdings create a substantial barrier against extreme price capitulation. ## Analyzing the MVRV Metric Ju utilizes the Market Value to Realized Value ratio to assess market health. He notes that a $10,000 price would imply an MVRV of 0.2, far below the historical bottom of 0.6. He argues that even 2019 buyers, who have already survived multiple 75% market crashes, are unlikely to panic at current levels. ## Macroeconomic Triggers and Correlations The debate centers on the Nasdaq 100, which is currently 6.5% below its October 6 high. McGlone’s theory requires a 20% drop in equities to trigger his predicted Bitcoin collapse. Investors are closely monitoring the Nasdaq’s performance, as it serves as the primary indicator for McGlone’s domino effect scenario for digital assets. ## Fidelity Offers Alternative Perspective Jurrien Timmer of Fidelity suggests a different outlook, proposing that a new four-year bull market cycle may be underway. His analysis uses power law patterns to identify support levels, placing Bitcoin’s support line at $56,488. This view contrasts with McGlone’s focus on short-term macroeconomic volatility and potential asset class competition. ## Historical Context of Predictions McGlone has maintained his $10,000 forecast since 2023, repeating the warning in June and August. Critics, including Ki Young Ju, have pointed out that some of McGlone’s charts may be misleading, specifically noting that his axis plots Bitcoin divided by ten. This technical discrepancy remains a point of contention among market analysts. ## Market Sentiment and Volatility Bitcoin recently slipped below $81,000 amid heightened market volatility. While some analysts like Michael Saylor argue that the bottom is already in, others note that Glassnode data shows the $80,000 safety net eroding. Prediction markets currently assign only a 27% probability to Bitcoin returning to the $100,000 range in the near term. ## Divergent Analytical Frameworks The conflict between Bloomberg and Cryptoquant highlights the divide between traditional macroeconomic forecasting and onchain data analysis. While McGlone focuses on stock market correlations and bond yields, Ju emphasizes realized value and institutional accumulation. These differing methodologies ensure that Bitcoin price predictions remain highly polarized among industry experts and institutional observers. ## Sources covering this story - https://news.bitcoin.com/crypto-news/bloomberg-mcglone-bitcoin-10k-cryptoquant-ki-young-ju/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._