Bitcoin’s price slide seen as potential early signal of next U.S. recession, strategist says

On February 15, Bloomberg Intelligence strategist Mike McGlone argued that Bitcoin’s ongoing pullback and broader crypto weakness could be an early warning of the next U.S. recession rather than a normal correction in speculative markets. He highlighted Bitcoin’s recent failure to hold above $70,000, stretched U.S. equity valuations, and subdued index volatility as signs that the long-standing "buy-the-dip" regime since 2008 may be nearing exhaustion. McGlone also pointed to Bitcoin’s tight alignment with major stock indices and outlined scenarios in which deeper equity declines could pull the cryptocurrency toward $56,000 or even $10,000.