Bitcoin at $10,000? Gold rally jeopardises crypto price, warns Bloomberg strategist

Gold powering higher in 2026 is a bad sign for Bitcoin, according to Bloomberg Intelligence strategist Mike McGlone. McGlone argues that the precious metal’s exceptional performance signals a shift toward defensive positioning that historically precedes weaker returns for riskier and volatile assets such as crypto. “Gold grabbing alpha in 2025 at the greatest pace since 1979 could signal market risk reversion in 2026. Never before has the store of value rallied at such magnitude,” he wrote on LinkedIn. ...