Commodities, Crypto, and Economic Trends by Mike McGlone
Mike McGlone is Senior Commodity Strategist at Bloomberg Intelligence, where he authors the monthly Bloomberg Commodity Outlook and Crypto Outlook. Over 25 years of market experience includes positions at ETF Securities, S&P Indices, and the Chicago Board of Trade. His analysis is cited in more than 5,000 Bloomberg terminal publications per month, with forecasts shaping institutional strategies across commodities, Forex, and digital assets.
McGlone became widely known for contrarian Bitcoin forecasts, including warnings of a potential retracement toward US $10,000, balanced by longer-term outlooks highlighting Bitcoin as “digital gold.” Regular features on Bloomberg TV, Daybreak Asia, and podcasts reach audiences exceeding 100,000 listeners per session. Annual compensation, combining Bloomberg salary and external speaking fees, is estimated in the mid-six-figure USD range. A CFA charter and FRM credential reinforce analytical credibility. With more than 170,000 Twitter followers and active participation in global macro panels, McGlone remains one of the most visible institutional voices connecting commodities and crypto.
Gold and crude show signs of peaking against U.S. Treasury bonds, Mike McGlone notes
Mike McGlone suggests that gold, crude oil, and the wider commodities sector may not outperform U.S. Treasury bonds in 2026. He highlights that while commodity volatility is rising, risk ...
Mike McGlone: Crude may need to fall to $40 to reduce U.S. surpluses
Mike McGlone assesses that persistent surpluses in U.S. and Canadian crude oil supply are driving lower price trends. He highlights that since crude peaked near $147 a barrel in 2008, prices have ...
Gold’s rally could be short-lived after sharp drop, Mike McGlone notes
Mike McGlone suggests January and February may have provided a rare window to sell gold at elevated levels. He observes that, although gold could rebound from round-number support at around $4,000 ...
Mike McGlone: U.S. stock-market cap hits highest level since 1928-29
Mike McGlone highlights a notable divergence in financial markets, observing that U.S. stock-market capitalization relative to GDP has reached its highest level since 1928-29. He adds that ...
Copper underperforms with high volatility, Mike McGlone argues
Mike McGlone highlights that copper, despite setting records in volatility at roughly twice the level of beta, continues to underperform in comparison. He characterizes copper as an asset that ...
Mike McGlone: Gold and other assets reverse 2026 gains in peak-price shift
Mike McGlone reports that gold, silver, platinum, palladium, U.S. natural gas, Bitcoin and corn have all reversed their gains for 2026 as of June 12. He suggests this reversal points to a ...
Crude oil may follow major historical declines, Mike McGlone warns
Mike McGlone draws a comparison between crude oil's performance in 2026 and the significant downturns seen in 2008 and 1929. He suggests that a pump-then-dump contagion is building momentum, ...
Mike McGlone: Gold may be nearing $4,000 bottom or could be just bouncing
Mike McGlone raises the possibility that pump-then-dump contagion could be spreading in markets. He questions whether gold is forming a bottom near $4,000 or if its recent movement is merely a ...
Bitcoin signals potential downturn for risk assets in 2026, Mike McGlone indicates
Mike McGlone highlights that Bitcoin has historically led risk assets both upward and downward. According to McGlone, a chart comparing Bitcoin and the S&P 500 (scaled by a factor of ten) suggests ...
Mike McGlone: Managed money net-longs in petroleum futures may have set a lower high
Mike McGlone highlights that managed money net-long positions in petroleum futures may have hit a lower high in the first quarter, paralleling the trend in crude oil prices. He also raises the ...
Tether becomes number two cryptocurrency, Mike McGlone notes
Mike McGlone highlights the shifting landscape in the cryptocurrency market, noting that Tether has surpassed Ether to become the second largest cryptocurrency after Bitcoin. He points out that ...
Mike McGlone: Bitcoin and deflation in post-inflation environment
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, ...
Industrial metals underperform S&P 500, Mike McGlone points out
Mike McGlone observes that industrial metals are weakening compared to the S&P 500. He highlights that this trend may indicate the metals sector, including gold, is becoming increasingly reliant ...
Mike McGlone: Crypto weakness below key support may define 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 ...
TLT hits record 10-year low against USO, Mike McGlone notes
Mike McGlone highlights that the iShares 20+ Year Treasury Bond ETF (TLT) has dropped to its lowest level relative to the United States Oil Fund LP (USO) in a decade. He questions whether this ...
Crude oil, gold, corn, bitcoin price prediction: Mike McGlone projects $120 crude, $5,500 gold, $5 corn, $98,000 bitcoin in 2026
Mike McGlone projects possible price peaks in 2026 for major assets, highlighting levels of $120 for crude oil, $5,500 for gold, $5 for corn, and $98,000 for bitcoin. McGlone notes that rapid ...
Grain markets face price peak in May, Mike McGlone notes
Mike McGlone highlights that late May could mark a peak period for grain prices, following the traditional pattern of the Corn Belt sowing season in April and May. According to McGlone, a ...
Mike McGlone: U.S. breakeven costs for WTI crude and corn near $55 and $4
Mike McGlone points out that U.S. breakeven costs for key commodities are approaching $55 a barrel for WTI crude oil and roughly $4 a bushel for corn. He adds that U.S. natural gas may continue ...
Precious metals outperform while energy lags in 2026, Mike McGlone notes
Mike McGlone highlights that in 2026, precious metals are the only major commodity sector to achieve new highs. Energy, in contrast, has struggled for nearly two decades and may continue to face ...
Mike McGlone: WTI crude faces steep backwardation as price peaks
Mike McGlone highlights that steep backwardation in crude oil markets often marks price peaks, citing the one-year-back WTI crude oil future trading at about $77 a barrel on May 15. According to ...
U.S. oil surplus may persist until $40 price level, Mike McGlone notes
Mike McGlone suggests that a drop to $40 per barrel may be necessary to curb the current U.S. supply surplus in crude oil. According to McGlone, U.S. oil demand has declined compared to supply, ...
