Bloomberg's McGlone Says "Sell the Rallies" - Here's Why $BTC Is at a Crossroads
Bitcoin has slipped about 9% from its 2026 peak near $97,930, and this time the warning is coming from Bloomberg Intelligence. Mike McGlone says the playbook for $BTC next year may shift from "buy the dip" to "sell the rallies" - and that's getting attention.
His argument is simple. Bitcoin's correlation with traditional stocks has risen, while macro conditions are tightening. If BTC can't reclaim the $89K-$90K zone, McGlone sees risk of a deeper test toward $84K - a level that matters structurally.
That doesn't mean crypto is out of catalysts. 2026 still brings big themes: U.S. market legislation, a potential stablecoin supercycle, Federal Reserve policy shifts, and wider crypto ETF distribution. But timing matters more when volatility cuts both ways.The takeaway? This isn't about panic - it's about positioning. If key support fails, rallies may be opportunities to reduce risk, not chase upside. And that's a mindset shift the market isn't fully priced for yet.