Maybe 10,000 is too low, but everything is possible.

The Bloomberg strategist pointed to 5,600 on the S&P 500 — corresponding to roughly $56,000 for Bitcoin under his scaling model — as a potential first stage of what he described as a “normal reversion.” Looking further ahead, McGlone said his broader outlook envisions Bitcoin declining toward $10,000, a scenario he tied to the possibility of a peak in U.S. equities.

$BTC ‌