Ah, dear reader, gather ’round as we delve into the cryptic musings of Mike McGlone, the illustrious senior commodity strategist at Bloomberg Intelligence. With a flourish of his digital quill, he has graced the social media realm with his prophetic insights on the impending doom that awaits our beloved markets, as the once-mighty titans of cryptocurrency, Bitcoin and Ethereum, find themselves in a rather unfortunate nosedive. 🪂
McGlone, with the gravitas of a soothsayer, has proclaimed that the current plight of Bitcoin and Ethereum is but a harbinger of a dismal year ahead for risk assets in the grand ol’ US of A. Who would have thought that the digital gold rush would lead us to such a comical calamity? 😂
Brace Yourselves: The US Stock Market and Risk Assets Are in for a Plunge!
In a tweet that could rival the most dramatic of Shakespearean tragedies, McGlone has warned that Bitcoin’s descent below the $80,000 mark and Ethereum’s dip beneath the $2,000 threshold might just signal the dawn of “reciprocal underperformance” in the historically inflated US risk assets. Oh, the irony! 📉
He anticipates a “reversion of the multidecade lows in broad commodities vs. the US stock market.” The stock market, he muses, has reached the zenith of its overvaluation, standing tall at the end of 2024, while the rest of the world looks on in disbelief. If McGlone’s crystal ball is to be believed, we might be witnessing a bearish scenario for cryptocurrency prices in 2025. Hold onto your hats, folks! 🎩
Bitcoin’s Slump, Sub-$2,000 Ether vs. Gold, Commodities, Stocks – Falling #cryptos could be pointing to 2025 as the start of reciprocal underperformance in historically elevated US risk assets. I view reversion of the multidecade lows in broad #commodities vs. the US…
— Mike McGlone (@mikemcglone11) March 12, 2025
Yet, in a twist worthy of a Dostoevsky novel, he refrains from explicitly stating that crypto and stocks are at odds with commodities and gold, which he anticipates will flourish this year. A true master of ambiguity! 🧐
Gold ETFs: The New Darling of Investors?
In a tweet that could make even the most stoic of investors chuckle, McGlone has drawn our attention to the performance of gold versus Bitcoin. He unveiled a chart that illustrates the Bitcoin-to-gold Ratio, which has reached its peak. The Bitcoin price, once soaring like a phoenix, now appears to be flirting with a reversal. How the mighty have fallen! 🦅
Bitcoin/Gold Cross May Have Peaked, With Implications – After four years of outflows, #gold #ETFs have turned decisively to inflows in 2025, which may signal a shift in risk appetites.
Full report on Bloomberg here: {BI COMD}#commodities #metals #Bitcoin…— Mike McGlone (@mikemcglone11) March 12, 2025
As the yellow curve representing gold ETF inflows begins to rise after a prolonged slumber since 2022, one can’t help but wonder if investor sentiment is shifting from Bitcoin to gold. Could it be that Bitcoin’s reign as the ultimate store of value is waning? The plot thickens! 🥳
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2025-03-12 18:23