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Mike McGlone: Bitcoin's bear market could influence gold and other risk assets

Mike McGlone: Bitcoin's bear market could influence gold and other risk assets
Bitcoin decline may impact gold and risk

Mike McGlone said the current bear market in Bitcoin could have implications for gold and other risk assets. He also noted that U.S. President Donald Trump's shift from being a crypto antagonist to an enthusiast contributed to his reelection in 2024. McGlone highlighted Bitcoin as the first-born crypto in his analysis.

McGlone has recently commented on price levels in other commodities. He observed that U.S. natural gas futures remained below $4 while managed-money net-short positions increased. In another note, he identified $2,000 as a resistance point for platinum after its decline from near $3,000 an ounce.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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