Bloomberg strategist doubles down on $10,000 bitcoin call but peers say it would take a nuclear war to get there
The longtime bitcoin bear’s gloom-and-doom call met with fierce rebuttal from industry analysts.
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The longtime bitcoin bear’s gloom-and-doom call met with fierce rebuttal from industry analysts.
Many traders expect bitcoin to recover toward the $80K level between June and September, Derive said.
Several market participants, including MSTR and OTC traders, kept demand steady, helping BTC stay resilient.
It’s been a historic 24 hours for crude oil, which soared to $120 per barrel overnight on Iran worries, but has plunged back to just above $80.
Macro strategist Mark Connors says war-driven spending, rising debt and lower interest rates could support bitcoin.
WTI crude oil, which soared nearly 30% to $120 per barrel overnight, has pulled back to $95, easing pressure on risk assets.
Bitcoin has its own volatility gauge (BVIV), and that spiked in early February, suggesting crypto markets may have already experienced their panic phase.
Rising oil prices are shaking global markets, but the U.S. is largely insulated and bitcoin seems to be riding the wave alongside Wall Street.
There was little sign over the weekend of any de-escalation in the war against Iran.
The central debate has shifted from whether bitcoin can survive to if it can function as a sovereign reserve asset, as critics assess it by institutional standards.