Bitcoin price (BTC) as of today (Tuesday), April 8, 2025, falls below the key support of $80,000, continuing its steep decline from a $109,00 peak earlier this year. Yet, the crypto community is buzzing over a dire warning from Bloomberg Senior Commodity Strategist Mike McGlone: Bitcoin could crash to $10,000, a level last seen in 2020.

“In 2020, Bitcoin was at 10,000. It was only a few years ago. I think it’s going back there,” McGlone told in recent interview. This bold prediction raises important questions: How low can Bitcoin go? What’s driving this potential plunge? And how should you protect your portfolio?

In this comprehensive guide, we’ll unpack McGlone’s bearish outlook, explore the forces tanking crypto in 2025, and offer practical insights for retail investors. By blending financial theory, real-world examples, and answers to common questions, we’ll help you make sense of Bitcoin’s volatility and chart a path forward.

Why Will Bitcoin Crash? Mike McGlone’s $10,000 BTC Prediction

Mike McGlone’s forecast isn’t mere speculation—it’s rooted in his decades of market analysis. In his Cointelegraph interview, he painted a grim picture for Bitcoin and the crypto market.

“The whole space needs purging just like the dot-com bubble did. It’s getting it in 2020,” he said, drawing parallels to the early 2000s tech crash. His $10,000 call hinges on several key arguments:

• Speculative Excess – McGlone sees rampantoverhype in crypto, spotlighting assets like Dogecoin: “Dogecoin still has$20 billion in market cap. It’s basically a joke. It should go to zero.”For retail investors, this suggests Bitcoin’s price may be propped up byunsustainable enthusiasm rather than intrinsic value.
• Macroeconomic Reset – He ties Bitcoin’s fate to abroader market correction, intensified by U.S. policy shifts. “We’re in abear market in cryptos. We’re in a bear market in the stock market,” henoted, contrasting this with bull markets in bonds and gold.
• Bitcoin’s “Digital Gold” Myth – McGlone challenges Bitcoin’ssafe-haven status: “Bitcoin is proving anybody who bought ETFs is learningthe hard way. They did not find digital gold. They bought more of a valueof leveraged beta. That’s a fact.” This critique resonates as gold surges16% in 2025 while Bitcoin drops 20%.
• Mean Reversion – Reflecting on Bitcoin’srally from $10,000 in 2020 to over $100,000, McGlone predicts a rollback:“We do a little mean reversion… I think it’s going back there.” For retailinvestors, this signals a potential correction to historical norms.

Why Is Bitcoin Going Down in 2025? Wall Street, Tariffs, and More

McGlone’s prediction doesn’t exist in a vacuum—crypto markets are buckling under a perfect storm of pressures in 2025. Here’s a deeper look at why Bitcoin and its peers are struggling, with insights for retail investors.

Wall Street’s Risk-Off Mood

Wall Street’s retreat from risk assets is a major driver. The S&P 500, a bellwether for investor sentiment, has slid 6% from its 2025 peak, with McGlone warning it may not stabilize until around 4,000.

“The stock market has grown disproportionately large relative to the U.S. economy,” he told Cointelegraph, citing a market cap-to-GDP ratio of 2.2—well above its historical 1.5 average.

As Wall Street sheds overvalued stocks, Bitcoin, a high-beta asset tied to equity trends, feels the heat. Retail investors who piled into Bitcoin ETFs alongside tech stocks are now facing double jeopardy.

Trump’s Tariff Wars

U.S. President Donald Trump’s aggressive tariff policies are roiling global markets, and crypto isn’t immune.

“Trump’s tilt put in the top,” McGlone said, suggesting that trade wars sparked by his January 2025 inauguration triggered crypto’s downturn.

Tariffs on imports—potentially exceeding 60% on Chinese goods—threaten to slow global trade, reduce liquidity, and push investors toward safe havens like gold.

“The U.S. just cutting off the dependence of the rest of the world exporting to the U.S. for gaining wealth” is a seismic shift, he added. For retail investors, this means Bitcoin’s “global currency” appeal could falter as economic uncertainty mounts.

Liquidity Crunch and Fed Inaction

Unlike the 2020 COVID crash, where the Federal Reserve pumped trillions into markets, 2025 offers no such lifeline.

“The Fed can’t ease anymore. They’re out of the picture,” McGlone warned, noting that sticky inflation from 2024’s $12 trillion stock market wealth boom has tied the Fed’s hands.

Without rate cuts or stimulus, crypto lacks the fuel that drove its post-2020 recovery. Retail investors banking on a “V-shaped” rebound may be disappointed.

Overvaluation and Crypto Saturation

The crypto market’s sheer size—over 13,000 coins—breeds instability. McGlone highlighted Ethereum’s drop from $4,000 to $1,500 and predicted it could hit $1,000, flipping with Tether in market cap rankings.

“There’s excess supply and speculative excesses in this space, akin to things I’ve never seen before,” he said. For retail investors, this glut dilutes Bitcoin’s dominance, making it vulnerable to a sector-wide purge.

Flight to Traditional Safe Havens

Gold’s 16% rise in 2025 underscores a shift away from speculative assets. “The Bitcoin-to-gold ratio is what, 27x or something? It’s going back to ten,” McGlone predicted, recalling its level a few years ago. Retail investors who bought Bitcoin as “digital gold” may pivot to physical gold, accelerating BTC’s decline.

How Low Can Bitcoin Go? Historical Context and Technical Analysis

McGlone’s “mean reversion” argument aligns with financial theory—prices revert to their long-term average after extremes. Bitcoin’s 80%+ annualized volatility supports this, making a crash plausible for retail investors to brace for.

Bitcoin’s past offers clues:

• 2017–2018:A 84% drop from $20,000 to $3,200.
• 2022: A 70% plunge from $69,000 to$16,000 post-FTX. An 88% fall to $10,000 from $80,000 fits this pattern,though it’s steeper than recent corrections.

From a technical analysis perspective, my assessment suggests that although Bitcoin has dipped below the psychological support level of $80,000, it has found support at this year’s lows, located slightly lower. Monday’s strong bullish reaction and the absorption of the $74,500 lows demonstrated that buyers aren’t ready to surrender control to the bears just yet.

Technical Analysis of Bitcoin’s Chart. Source: Tradingview.com

If this current level holds, I believe Bitcoin is unlikely to face sharper declines in the near term. However, a breakdown below this point would pave the way for the next critical support zones:

• $70,000–$74,000 zone: This range represents the highs drawn from March to August 2024, which previously acted as a significant resistance area.
• $59,000: The lows from October of last year.
• $53,500: The lows from July to September, which marked the starting point of the most recent rally.

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Why Bitcoin Might Hold Up?

Not everyone shares McGlone’s gloom. Bullish analysts argue Bitcoin could soar in 2025, driven by the April 2024 halving (reducing mining rewards to 3.125 BTC), institutional adoption, and ETF inflows. Companies like MicroStrategy continue stockpiling BTC, while retail ETF flows—80% of which come from self-directed investors—signal resilience. Below is a table of bullish Bitcoin price predictions for 2025, offering a stark contrast to McGlone’s view:

Bitcoin Price Prediction 2025 Table

These forecasts hinge on optimism around regulatory clarity (e.g., Trump’s proposed Bitcoin reserve), ETF momentum, and Bitcoin’s scarcity. While McGlone sees a purge, bulls argue the halving’s supply squeeze and growing mainstream acceptance could propel BTC to new heights.

Mike McGlone’s $10,000 Bitcoin call—“I think it’s going back there”—is a stark warning fueled by Wall Street’s retreat, Trump’s tariffs, and crypto’s excesses. For retail investors, it’s a call to vigilance, not panic. Bitcoin’s volatility is its hallmark, and while a crash is possible, so is a rebound. Diversify, stay informed, and weigh McGlone’s macro lens against crypto’s resilient history. Whether Bitcoin sinks or swims, your strategy will define your success.

Bitcoin price Prediction, FAQ

How Low Is Bitcoin Going to Drop?

No one knows for sure, but McGlone’s $10,000 call—an 88% drop from $80,000—reflects a severe correction. “I think it’s going back there,” he said, based on macro pressures and crypto’s bubble-like traits. Historically, Bitcoin’s worst falls range from 70% to 92%, so $10,000 is within reach but not guaranteed.

How Much Will 1 Bitcoin Be Worth in 2025?

Predictions vary wildly. McGlone sees $10,000, but bulls like Bernstein forecast $200,000, driven by halving effects and ETF demand. “Putting price and time together is very difficult,” McGlone admitted. Your guess depends on whether tariff wars and Wall Street woes outweigh crypto’s resilience—expect volatility either way.

What If I Bought $1 of Bitcoin 10 Years Ago?

Ten years ago, in April 2015, Bitcoin averaged $250. A $1 investment would’ve bought 0.004 BTC. At today’s $80,000, that’s $320—a 320x return. Even if it drops to McGlone’s $10,000, your $1 would still be $40, far outpacing most assets. This highlights Bitcoin’s long-term potential despite short-term dips.

Is It Worth Having $100 in Bitcoin?

Yes, if you’re risk-tolerant. At $80,000, $100 buys 0.00125 BTC. If it hits $10,000, that’s $12.50—a loss—but if it climbs to $120,000 (a past peak), it’s $150. “There’s going to be decent volatility, a lot of trading opportunities,” McGlone noted. For retail investors, $100 is a low-stakes way to dip in, provided you’re ready for swings.

Should I Sell My Bitcoin Now?

McGlone’s view isn’t gospel. “I’ll stick with that view and I’m willing to eat it if I’m wrong,” he admitted. If you’re in for the long haul, holding through volatility has paid off historically—e.g., BTC’s 2023 rebound to $69,000.

Is Bitcoin Still “Digital Gold”?

“We’re finding out the hard way in the macro,” McGlone said, pointing to gold’s outperformance. Yet, Bitcoin’s scarcity (21 million coins) retains appeal during inflation spikes—watch macro trends to judge its role.