A Bloomberg strategist has warned that Bitcoin could fall toward the $10,000 level if U.S. stocks undergo a 20% correction and bond yields surge, a scenario that would intensify pressure on risk assets across crypto markets.
The forecast hinges on a broader equity drawdown, with the strategist linking Bitcoin's downside to tightening financial conditions and rising yields. Under such conditions, the strategist sees Bitcoin potentially revisiting levels far below its recent trading range.
However, the view was quickly challenged by CryptoQuant's founder, who pointed to onchain valuation data as evidence that Bitcoin's realized price and network fundamentals may not support such a deep drawdown.
The debate highlights broader uncertainty about Bitcoin's correlation to macro markets and its resilience amid equity weakness and higher bond yields.
