Mike McGlone: Bloomberg Galaxy Crypto Index falls below 2,000 as market weakness persists

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Yaroslav Dmytrenko

13.08.2026

Mike McGlone: Bloomberg Galaxy Crypto Index falls below 2,000 as market weakness persists — Bloomberg crypto index falls below 2,000

Mike McGlone highlights that the Bloomberg Galaxy Crypto Index has dropped to approximately 1,660 as of August 12, falling below the 2,000 level after previously peaking near that mark.

He observes that Bitcoin and the broader crypto market remain in a bear market, with indicators from the Bloomberg Economics model suggesting further downside ahead.

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McGlone has tracked price levels in other markets in earlier updates. He recently assessed whether crude oil could stay above $70 and natural gas would maintain $4 support. In a separate note, he discussed the potential for the gold to copper ratio to decline further alongside rising U.S. stocks.

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