BTC, ETH Crashing – Here’s What This Means for Markets in 2025: Mike McGlone

Published 12/03/2025, 16:13
Updated 12/03/2025, 20:15
© Igor Faun BTC, ETH Crashing – Here's What This Means for Markets in 2025: Mike McGlone

U.Today - Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, has taken to his social media account to share his take on the prospects the markets are likely to face later this year as the leading cryptocurrencies, Bitcoin and Ethereum, remain in a heavy decline.

McGlone pointed out that the current slump of Bitcoin and Ethereum is indicative of the negative year that might be coming up for risk assets in the U.S.

US stock market and risk assets to plunge, McGlone predicts

McGlone has tweeted that Bitcoin plunging below $80,000 and Ethereum dipping under the $2,000 level could be indicating the emergence of “reciprocal underperformance in historically elevated US risk assets.”

McGlone expects a “reversion of the multidecade lows in broad commodities vs. the US stockmarket.” The stock market, he added, came to the end of 2024 “at the highest ever vs. the rest of the world,” since they were overvalued. Since McGlone believes that crypto and U.S. stocks are moving in tandem, it is possible to conclude that his vision includes a bearish scenario for cryptocurrency prices in 2025.

Still, he does not explicitly say this, but he rather opposes crypto and stocks to commodities and gold, which he expects to do well this year.

Gold ETFs facing large inflows vs. Bitcoin ETFs

In a tweet published earlier today, McGlone spoke of gold’s performance versus that of Bitcoin. He shared a chart, which demonstrates the Bitcoin-to-gold ratio, which reached its peak. On this chart, the Bitcoin price has been following a long-term uptrend, but it seems to be peaking and hinting that it may soon begin to reverse.

On the same chart, the yellow curve, which represents gold ETF inflows, has begun to rise after a long-term decline since 2022. This may suggest that investor sentiment is turning from Bitcoin to gold at the moment. This in turn may indicate that Bitcoin’s dominance over gold as a store of value is slowing down now. This aligns with the aforementioned tweet, where McGlone says that the investor sentiment is currently shifting from risk assets to traditional ones.

This content was originally published on U.Today

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