• bitcoinBitcoin (BTC) $ 95,962.00
  • ethereumEthereum (ETH) $ 2,698.86
  • xrpXRP (XRP) $ 2.60
  • tetherTether (USDT) $ 0.999699
  • bnbBNB (BNB) $ 659.24
  • solanaSolana (SOL) $ 169.45
  • usd-coinUSDC (USDC) $ 0.999896
  • dogecoinDogecoin (DOGE) $ 0.252997
  • cardanoCardano (ADA) $ 0.781028
  • staked-etherLido Staked Ether (STETH) $ 2,695.24
  • tronTRON (TRX) $ 0.236733
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 95,884.00
  • chainlinkChainlink (LINK) $ 18.14
  • wrapped-stethWrapped stETH (WSTETH) $ 3,211.43
  • stellarStellar (XLM) $ 0.326031
  • avalanche-2Avalanche (AVAX) $ 24.09
  • suiSui (SUI) $ 3.11
  • ugold-incUGOLD Inc. (UGOLD) $ 3,037.58
  • litecoinLitecoin (LTC) $ 126.95
  • the-open-networkToncoin (TON) $ 3.69
  • shiba-inuShiba Inu (SHIB) $ 0.000015
  • leo-tokenLEO Token (LEO) $ 9.78
  • usdsUSDS (USDS) $ 1.00
  • hedera-hashgraphHedera (HBAR) $ 0.205857
  • wethWETH (WETH) $ 2,699.43
  • hyperliquidHyperliquid (HYPE) $ 23.64
  • polkadotPolkadot (DOT) $ 4.78
  • mantra-daoMANTRA (OM) $ 7.45
  • bitcoin-cashBitcoin Cash (BCH) $ 318.31
  • ethena-usdeEthena USDe (USDE) $ 0.999257
  • bitget-tokenBitget Token (BGB) $ 5.05
  • uniswapUniswap (UNI) $ 9.69
  • wrapped-eethWrapped eETH (WEETH) $ 2,858.91
  • moneroMonero (XMR) $ 233.06
  • pepePepe (PEPE) $ 0.000010
  • whitebitWhiteBIT Coin (WBT) $ 27.19
  • aaveAave (AAVE) $ 258.43
  • ondo-financeOndo (ONDO) $ 1.19
  • nearNEAR Protocol (NEAR) $ 3.18
  • mantleMantle (MNT) $ 1.10
  • susdssUSDS (SUSDS) $ 1.04
  • daiDai (DAI) $ 0.999891
  • official-trumpOfficial Trump (TRUMP) $ 16.59
  • aptosAptos (APT) $ 5.62
  • internet-computerInternet Computer (ICP) $ 6.83
  • bittensorBittensor (TAO) $ 366.48
  • ethereum-classicEthereum Classic (ETC) $ 20.27
  • okbOKB (OKB) $ 49.71
  • gatechain-tokenGate (GT) $ 22.56
  • tokenize-xchangeTokenize Xchange (TKX) $ 34.07
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.305481
  • kaspaKaspa (KAS) $ 0.101312
  • vechainVeChain (VET) $ 0.032134
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 96,044.00
  • crypto-com-chainCronos (CRO) $ 0.086173
  • algorandAlgorand (ALGO) $ 0.261996
  • render-tokenRender (RENDER) $ 4.18
  • arbitrumArbitrum (ARB) $ 0.469608
  • filecoinFilecoin (FIL) $ 3.27
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • cosmosCosmos Hub (ATOM) $ 4.64
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.743174
  • jupiter-exchange-solanaJupiter (JUP) $ 0.734058
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 96,233.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.585368
  • optimismOptimism (OP) $ 1.10
  • lido-daoLido DAO (LDO) $ 1.89
  • fasttokenFasttoken (FTN) $ 3.93
  • celestiaCelestia (TIA) $ 3.07
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,698.22
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,790.20
  • kucoin-sharesKuCoin (KCS) $ 12.05
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 95,644.00
  • xdce-crowd-saleXDC Network (XDC) $ 0.091654
  • injective-protocolInjective (INJ) $ 14.04
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,034.42
  • blockstackStacks (STX) $ 0.892885
  • ethenaEthena (ENA) $ 0.432093
  • binance-staked-solBinance Staked SOL (BNSOL) $ 175.21
  • nexoNEXO (NEXO) $ 1.33
  • immutable-xImmutable (IMX) $ 0.747724
  • raydiumRaydium (RAY) $ 4.40
  • the-graphThe Graph (GRT) $ 0.134110
  • theta-tokenTheta Network (THETA) $ 1.27
  • movementMovement (MOVE) $ 0.525090
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,852.35
  • bonkBonk (BONK) $ 0.000016
  • worldcoin-wldWorldcoin (WLD) $ 1.16
  • flare-networksFlare (FLR) $ 0.020223
  • usual-usdUsual USD (USD0) $ 0.998306
  • sei-networkSei (SEI) $ 0.222899
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 97,159.00
  • jasmycoinJasmyCoin (JASMY) $ 0.021287
  • dexeDeXe (DEXE) $ 17.89
  • galaGALA (GALA) $ 0.021886
  • makerMaker (MKR) $ 1,124.71
  • eosEOS (EOS) $ 0.616565
  • telcoinTelcoin (TEL) $ 0.010112
  • flokiFLOKI (FLOKI) $ 0.000095
  • the-sandboxThe Sandbox (SAND) $ 0.369652
  • tezosTezos (XTZ) $ 0.863435
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.81
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,796.61
  • msolMarinade Staked SOL (MSOL) $ 213.69
  • bittorrentBitTorrent (BTT) $ 0.00000085
  • wbnbWrapped BNB (WBNB) $ 659.13
  • iotaIOTA (IOTA) $ 0.221031
  • flowFlow (FLOW) $ 0.507088
  • jito-governance-tokenJito (JTO) $ 2.65
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 95,860.00
  • roninRonin (RON) $ 1.24
  • bitcoin-svBitcoin SV (BSV) $ 38.57
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.60
  • neoNEO (NEO) $ 10.66
  • pyth-networkPyth Network (PYTH) $ 0.203594
  • kaiaKaia (KAIA) $ 0.126127
  • tether-goldTether Gold (XAUT) $ 2,910.76
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.11
  • chain-2Onyxcoin (XCN) $ 0.021070
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 183.34
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,850.39
  • axie-infinityAxie Infinity (AXS) $ 4.23
  • curve-dao-tokenCurve DAO (CRV) $ 0.506506
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,698.72
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.253108
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • fraxFrax (FRAX) $ 0.995936
  • dogwifcoindogwifhat (WIF) $ 0.627396
  • usdx-money-usdxusdx.money USDX (USDX) $ 1.00
  • berachain-beraBerachain (BERA) $ 5.77
  • heliumHelium (HNT) $ 3.49
  • spx6900SPX6900 (SPX) $ 0.659160
  • elrond-erd-2MultiversX (EGLD) $ 21.71
  • pax-goldPAX Gold (PAXG) $ 2,933.10
  • aerodrome-financeAerodrome Finance (AERO) $ 0.775510
  • arweaveArweave (AR) $ 9.12
  • decentralandDecentraland (MANA) $ 0.318432
  • resolv-usrResolv USR (USR) $ 1.00
  • newton-projectAB DAO (AB) $ 0.012884
  • starknetStarknet (STRK) $ 0.220482
  • pumpbtcpumpBTC (PUMPBTC) $ 94,969.00
  • conflux-tokenConflux (CFX) $ 0.114595
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,700.69
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.008853
  • insurance-2INSURANCE (INSURANCE) $ 29.45
  • dydx-chaindYdX (DYDX) $ 0.754628
  • matic-networkPolygon (MATIC) $ 0.305244
  • zcashZcash (ZEC) $ 34.32
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,682.26
  • chilizChiliz (CHZ) $ 0.057324
  • story-2Story (IP) $ 2.12
  • pendlePendle (PENDLE) $ 3.24
  • meowMEOW (MEOW) $ 0.005848
  • beam-2Beam (BEAM) $ 0.010039
  • beldexBeldex (BDX) $ 0.075222
  • coredaoorgCore (CORE) $ 0.515545
  • ecasheCash (XEC) $ 0.000026
  • apecoinApeCoin (APE) $ 0.693350
  • verus-coinVerus (VRSC) $ 6.41
  • kavaKava (KAVA) $ 0.457607
  • true-usdTrueUSD (TUSD) $ 0.998681
  • wormholeWormhole (W) $ 0.168406
  • clbtcclBTC (CLBTC) $ 96,090.00
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 96,028.00
  • compound-governance-tokenCompound (COMP) $ 53.89
  • aioz-networkAIOZ Network (AIOZ) $ 0.411879
  • metars-genesisMetars Genesis (MRS) $ 5.57
  • morphoMorpho (MORPHO) $ 2.03
  • amp-tokenAmp (AMP) $ 0.005399
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008005
  • apenftAPENFT (NFT) $ 0.00000045
  • tbtctBTC (TBTC) $ 95,916.00
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • gnosisGnosis (GNO) $ 169.60
  • akash-networkAkash Network (AKT) $ 1.77
  • quantixaiQuantixAI (QAI) $ 84.04
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,676.80
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.03
  • mina-protocolMina Protocol (MINA) $ 0.343370
  • thorchainTHORChain (RUNE) $ 1.18
  • axelarAxelar (AXL) $ 0.447364
  • usdbUSDB (USDB) $ 1.01
  • eigenlayerEigenlayer (EIGEN) $ 1.68
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000074
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • wouldwould (WOULD) $ 0.407472
  • super-oethSuper OETH (SUPEROETHB) $ 2,697.98
  • based-brettBrett (BRETT) $ 0.040854
  • olympusOlympus (OHM) $ 24.62
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,943.51
  • grassGrass (GRASS) $ 1.63
  • ketKet (KET) $ 0.391932
  • chex-tokenCHEX Token (CHEX) $ 0.386726
  • zksyncZKsync (ZK) $ 0.105426
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,697.52
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08
  • ai-companionsAI Companions (AIC) $ 0.377717
  • 1inch1inch (1INCH) $ 0.264720
  • stader-ethxStader ETHx (ETHX) $ 2,838.14

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

0 7

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.