• bitcoinBitcoin (BTC) $ 108,269.00
  • ethereumEthereum (ETH) $ 2,549.84
  • tetherTether (USDT) $ 0.999979
  • xrpXRP (XRP) $ 2.26
  • bnbBNB (BNB) $ 659.72
  • solanaSolana (SOL) $ 149.01
  • usd-coinUSDC (USDC) $ 0.999900
  • tronTRON (TRX) $ 0.287079
  • dogecoinDogecoin (DOGE) $ 0.167635
  • staked-etherLido Staked Ether (STETH) $ 2,549.24
  • cardanoCardano (ADA) $ 0.574580
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 108,035.00
  • hyperliquidHyperliquid (HYPE) $ 37.71
  • wrapped-stethWrapped stETH (WSTETH) $ 3,090.44
  • bitcoin-cashBitcoin Cash (BCH) $ 497.07
  • suiSui (SUI) $ 2.86
  • chainlinkChainlink (LINK) $ 13.30
  • leo-tokenLEO Token (LEO) $ 9.06
  • stellarStellar (XLM) $ 0.248428
  • avalanche-2Avalanche (AVAX) $ 17.80
  • usdsUSDS (USDS) $ 0.999819
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • wrapped-eethWrapped eETH (WEETH) $ 2,731.43
  • the-open-networkToncoin (TON) $ 2.75
  • wethWETH (WETH) $ 2,549.68
  • hedera-hashgraphHedera (HBAR) $ 0.156109
  • litecoinLitecoin (LTC) $ 86.47
  • whitebitWhiteBIT Coin (WBT) $ 45.03
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • moneroMonero (XMR) $ 314.12
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 108,321.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • polkadotPolkadot (DOT) $ 3.34
  • bitget-tokenBitget Token (BGB) $ 4.29
  • uniswapUniswap (UNI) $ 7.41
  • aaveAave (AAVE) $ 280.39
  • pepePepe (PEPE) $ 0.000010
  • daiDai (DAI) $ 1.00
  • pi-networkPi Network (PI) $ 0.457765
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • okbOKB (OKB) $ 48.24
  • bittensorBittensor (TAO) $ 320.06
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • aptosAptos (APT) $ 4.38
  • jito-staked-solJito Staked SOL (JITOSOL) $ 180.97
  • nearNEAR Protocol (NEAR) $ 2.13
  • internet-computerInternet Computer (ICP) $ 4.74
  • ethereum-classicEthereum Classic (ETC) $ 16.44
  • crypto-com-chainCronos (CRO) $ 0.080646
  • ondo-financeOndo (ONDO) $ 0.777250
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • kaspaKaspa (KAS) $ 0.074758
  • fasttokenFasttoken (FTN) $ 4.44
  • mantleMantle (MNT) $ 0.560635
  • gatechain-tokenGate (GT) $ 15.55
  • cosmosCosmos Hub (ATOM) $ 4.02
  • bonkBonk (BONK) $ 0.000023
  • vechainVeChain (VET) $ 0.020311
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.664404
  • official-trumpOfficial Trump (TRUMP) $ 8.47
  • skySky (SKY) $ 0.078658
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.185512
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 107,775.00
  • render-tokenRender (RENDER) $ 3.13
  • arbitrumArbitrum (ARB) $ 0.326581
  • ethenaEthena (ENA) $ 0.254242
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,550.88
  • filecoinFilecoin (FIL) $ 2.25
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.48
  • algorandAlgorand (ALGO) $ 0.173786
  • worldcoin-wldWorldcoin (WLD) $ 0.860826
  • usdtbUSDtb (USDTB) $ 0.999903
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998344
  • kucoin-sharesKuCoin (KCS) $ 11.00
  • binance-staked-solBinance Staked SOL (BNSOL) $ 158.34
  • sei-networkSei (SEI) $ 0.249184
  • usdt0USDT0 (USDT0) $ 0.999816
  • jupiter-exchange-solanaJupiter (JUP) $ 0.428601
  • tokenize-xchangeTokenize Xchange (TKX) $ 15.70
  • nexoNEXO (NEXO) $ 1.22
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,672.46
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,904.65
  • spx6900SPX6900 (SPX) $ 1.24
  • flare-networksFlare (FLR) $ 0.015931
  • celestiaCelestia (TIA) $ 1.55
  • fartcoinFartcoin (FARTCOIN) $ 1.08
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999847
  • xdce-crowd-saleXDC Network (XDC) $ 0.065180
  • injective-protocolInjective (INJ) $ 10.31
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • blockstackStacks (STX) $ 0.642445
  • sonic-3Sonic (S) $ 0.304186
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,725.32
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,677.63
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.46
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.015118
  • optimismOptimism (OP) $ 0.533951
  • pax-goldPAX Gold (PAXG) $ 3,342.31
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 108,119.00
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 108,074.00
  • story-2Story (IP) $ 3.13
  • paypal-usdPayPal USD (PYUSD) $ 0.999797
  • wbnbWrapped BNB (WBNB) $ 659.96
  • kaiaKaia (KAIA) $ 0.149202
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,689.71
  • clbtcclBTC (CLBTC) $ 109,014.00
  • dogwifcoindogwifhat (WIF) $ 0.840405
  • tether-goldTether Gold (XAUT) $ 3,334.54
  • flokiFLOKI (FLOKI) $ 0.000084
  • the-graphThe Graph (GRT) $ 0.082264
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 167.25
  • vaultaVaulta (A) $ 0.492544
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.24
  • immutable-xImmutable (IMX) $ 0.411776
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,754.91
  • msolMarinade Staked SOL (MSOL) $ 194.78
  • ousgOUSG (OUSG) $ 111.71
  • curve-dao-tokenCurve DAO (CRV) $ 0.507451
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.74
  • theta-tokenTheta Network (THETA) $ 0.678788
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998042
  • lido-daoLido DAO (LDO) $ 0.717807
  • jito-governance-tokenJito (JTO) $ 1.84
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • galaGALA (GALA) $ 0.013904
  • zcashZcash (ZEC) $ 38.49
  • ethereum-name-serviceEthereum Name Service (ENS) $ 18.39
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • iotaIOTA (IOTA) $ 0.155268
  • wrapped-hypeWrapped HYPE (WHYPE) $ 37.76
  • saros-financeSaros (SAROS) $ 0.226945
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 107,876.00
  • the-sandboxThe Sandbox (SAND) $ 0.241117
  • usual-usdUsual USD (USD0) $ 0.997751
  • aerodrome-financeAerodrome Finance (AERO) $ 0.682522
  • jasmycoinJasmyCoin (JASMY) $ 0.011969
  • raydiumRaydium (RAY) $ 2.15
  • super-oethSuper OETH (SUPEROETH) $ 2,549.72
  • tbtctBTC (TBTC) $ 107,828.00
  • syrupMaple Finance (SYRUP) $ 0.523034
  • newton-projectAB (AB) $ 0.008394
  • pendlePendle (PENDLE) $ 3.37
  • walrus-2Walrus (WAL) $ 0.398140
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,726.69
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,550.55
  • tezosTezos (XTZ) $ 0.522196
  • pyth-networkPyth Network (PYTH) $ 0.094769
  • falcon-financeFalcon USD (USDF) $ 0.994486
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,683.32
  • flowFlow (FLOW) $ 0.323174
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 108,231.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,549.27
  • decentralandDecentraland (MANA) $ 0.261999
  • true-usdTrueUSD (TUSD) $ 0.997305
  • bitcoin-svBitcoin SV (BSV) $ 24.63
  • coredaoorgCore (CORE) $ 0.486098
  • ripple-usdRipple USD (RLUSD) $ 0.999808
  • venomVenom (VENOM) $ 0.230839
  • apecoinApeCoin (APE) $ 0.594525
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999900
  • chain-2Onyxcoin (XCN) $ 0.013658
  • thorchainTHORChain (RUNE) $ 1.32
  • dexeDeXe (DEXE) $ 7.75
  • beldexBeldex (BDX) $ 0.061386
  • apenftAPENFT (NFT) $ 0.00000044
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.167572
  • morphoMorpho (MORPHO) $ 1.34
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004282
  • kavaKava (KAVA) $ 0.395494
  • usddUSDD (USDD) $ 1.00
  • heliumHelium (HNT) $ 2.29
  • based-brettBrett (BRETT) $ 0.041981
  • staked-hypeStaked HYPE (STHYPE) $ 37.76
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • usdbUSDB (USDB) $ 0.998966
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006884
  • starknetStarknet (STRK) $ 0.110753
  • stader-ethxStader ETHx (ETHX) $ 2,710.83
  • dydx-chaindYdX (DYDX) $ 0.515445
  • movementMovement (MOVE) $ 0.147192
  • compound-governance-tokenCompound (COMP) $ 40.60
  • neoNEO (NEO) $ 5.38
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • mog-coinMog Coin (MOG) $ 0.00000097
  • elrond-erd-2MultiversX (EGLD) $ 13.19
  • conflux-tokenConflux (CFX) $ 0.072367
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 107,937.00
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,547.65
  • ecasheCash (XEC) $ 0.000018
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999915
  • aioz-networkAIOZ Network (AIOZ) $ 0.302707
  • build-onBUILDon (B) $ 0.358510
  • deepDeepBook (DEEP) $ 0.141976
  • eosEOS (EOS) $ 0.492200
  • ether-fiEther.fi (ETHFI) $ 0.935607
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,813.16
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.12
  • axie-infinityAxie Infinity (AXS) $ 2.11

Bloomberg Analyst Says Bitcoin Facing Formidable Resistance at Critical Level, Outlines Headwinds in BTC’s Path

0 31

Bloomberg Analyst Says Bitcoin Facing Formidable Resistance at Critical Level, Outlines Headwinds in BTC’s Path

Bloomberg Intelligence senior macro strategist Mike McGlone is warning that Bitcoin (BTC) is facing mounting resistance at one key level.

McGlone says that changing macroeconomic conditions and exceptions that the Fed will cut rates less than previously thought in 2025 may prevent Bitcoin from flipping the $100,000 resistance level into support any time soon.

“Can Bitcoin breach $100,000? Model headwinds rising: Bitcoin peaked at $108,000 on December 17th, the day before the Federal Reserve eased, and our model might help determine what to look for in 2025. My bias is that $100,000 is formidable resistance, and the model shows top forces for Bitcoin’s almost 15% drawdown have been changing monetary policy expectations and crypto-specific factors.”

Bloomberg Analyst Says Bitcoin Facing Formidable Resistance at Critical Level, Outlines Headwinds in BTC’s Path

Source: Mike McGlone/X

McGlone is warning that Bitcoin’s correlation with the performance of the S&P 500 (SPX) is elevated, suggesting price volatility.

However, he says if Bitcoin could stay above $100,000 it may suggest the flagship crypto asset is acting more as a store of value like gold, rather than a risk-on tech stock.

“Bitcoin strategic reserve dependency in 2025? Bitcoin may need to stay above the $100,000 threshold achieved in 2024 to show risk-asset stabilization. My bias is last year’s launch of US exchange-traded funds, Bitcoin halving, record-setting stock market and re-election of convert turned zealot, [US President-elect Donald] Trump, may be about as good as it gets for stretched speculative digital assets.”

Bloomberg Analyst Says Bitcoin Facing Formidable Resistance at Critical Level, Outlines Headwinds in BTC’s Path

Source: Mike McGlone/X

He also warns that gold is showing market strength against the SPX, which could signal stocks may decline as well as Bitcoin if BTC’s high correlation with the SPX remains intact.

“Do stocks face a lose-lose versus gold, Bitcoin? Despite increasing competition from Bitcoin, gold has been outperforming the S&P 500 (SPX), with implications for risk assets. Did the launch of US ETFs and Trump’s reelection change the trajectory/correlation for highly speculative digital assets?”

Bloomberg Analyst Says Bitcoin Facing Formidable Resistance at Critical Level, Outlines Headwinds in BTC’s Path

Source: Mike McGlone/X

Bitcoin is trading for $99,790 at time of writing, up 1.1% in the last 24 hours.

Source

Leave A Reply

Your email address will not be published.