Bloomberg Intelligence strategist Mike McGlone is sticking to his prediction of a price drop for Bitcoin to $10,000. He argues that the digital asset’s recent rally, fueled by investor activity and technical signals like increased buying volume and positive MACD indicators, resembles commodity market movements after significant gains. While some analysts believe in a bullish surge toward $200,000 by December, McGlone cites historical patterns suggesting Bitcoin might retrace to its previous support level around $10,000 after sharp increases. The debate comes at a time when US Consumer Price Index (CPI) data continues to impact the crypto market, adding volatility and potentially influencing investor behavior. Despite this uncertainty, McGlone maintains his bearish outlook. However, analysts with diverse views remain cautious about potential risks, noting the need for Bitcoin to overcome resistance around $115,000 before further price increases are likely. The ongoing debate between bulls and bears highlights Bitcoin’s unpredictable nature and its susceptibility to both market sentiment and fundamental factors.