Bloomberg Strategist Believes Bitcoin Risks Falling to $56,000

Mike McGlone, a strategist at Bloomberg Intelligence, predicted a possible Bitcoin price drop to $56,000. He believes the current market situation suggests that a decline in the price of the leading cryptocurrency to its 48-month moving average is quite common. This line is currently around $56,000, following a prolonged bullish rally seen in 2025.

Forecast and Chart

The chart McGlone referenced shows that the price of BTC fell to its 48-month moving average after the end of strong uptrends in 2017 and 2021. If this pattern repeats, Bitcoin could indeed fall to this level.
However, not all analysts agree with McGlone's forecast. Researchers at Glassnode believe that the recent drop in Bitcoin's price below $100,000 is a normal correction. They note that the relative unrealized loss for BTC holders is only 3.1%, which is significantly lower than the 5% threshold at which losses become significant.

Analysts' Bitcoin Price Predictions

Glassnode analysts argue that the current correction is similar to the slowdown in the bullish trend observed in the middle of previous cycles. Meanwhile, 71% of Bitcoin owners still have unrealized profits. However, the systematic selling of BTC by long-term holders, which began in July, and the outflow of capital from ETFs indicate that both retail and institutional investors are losing confidence in the continuation of the upward trend.

In Conclusion

Thus, forecasts for the future price of Bitcoin remain contradictory, and investors should closely monitor market developments.