Geopolitical tensions and tightening liquidity could trigger a major sell-off across equities and cryptocurrencies, according to Bloomberg Intelligence senior macro strategist Mike McGlone.
Bitcoin Could Revert Toward Long-Term Mean
McGlone warned in an interview with Cointelegraph on Saturday that escalating tensions between U.S. and Iran could pressure global risk assets.
He predicts U.S. equities could decline by as much as 50%, a scenario that would likely pull crypto markets lower as well.
The Bloomberg Galaxy Crypto Index has already fallen more than 50% from its peak, highlighting weakening momentum across digital assets.
Because cryptocurrencies, such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) …