Mike McGlone: Crypto weakness below key support may define 2026 outlook

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Daria Chernytska

01.06.2026

Mike McGlone: Crypto weakness below key support may define 2026 outlook — Crypto weakness may shape 2026 outlook

Mike McGlone highlights divergent weakness in the crypto market after major assets dropped below key support at the end of May, contrasting with record-setting stock market performance.

He cites the Bloomberg Galaxy Crypto Index falling below 2,000 on May 29 as a possible sell signal for Bitcoin and other cryptocurrencies. McGlone suggests this trend may become a defining feature for the sector in 2026.

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Earlier this year, McGlone projected $98,000 for bitcoin in 2026 alongside targets for crude oil, gold, and corn. He also observed a ten-year low for TLT against the U.S. Oil Fund. These forecasts and market signals have been featured in his recent market commentary.

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