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Mike McGlone questions whether Bitcoin is leading to deflation following a period of inflation. He observes that maintaining a high level of economic activity can result in continued inflation, which often causes incumbents to suffer during elections.
McGlone also suggests that recent economic changes may indicate a shift toward a deflationary period, with Bitcoin possibly at the forefront of this trend.
McGlone has previously projected bold price targets across asset classes, including $120 crude oil, $5,500 gold, $5 corn, and $98,000 bitcoin for 2026 in his commodity and bitcoin outlook. He has also noted TLT's 10-year low against the U.S. Oil Fund while examining the relationship between bond and equity markets in a separate market comparison. His recent analysis continues this focus on macroeconomic shifts and cross-asset signals.