Iran-Driven Oil Volatility Could Derail Bitcoin Price Rally, Bloomberg’s Mike McGlone Says, Warns of Further Downturn

Key Takeaways Commodity volatility could pressure Bitcoin, says Bloomberg analyst Mike McGlone. Bitcoin needs low stock-market volatility, he said. Analysts see short-term bullish momentum. Bitcoin’s recent price rally, up 7% in the last seven days, could face headwinds if volatility in oil and other commodities spills over into broader financial markets, according to Bloomberg Intelligence commodities strategist Mike McGlone. McGlone said heightened swings in crude oil and precious metals — lin ...