Bloomberg Analyst Warns Bitcoin Market Bottom Yet to Be Found

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jan 02 2026

Should l Buy BTC?

Market Bottom Warning: Bloomberg's senior macro strategist Mike McGlone indicates that Bitcoin's current price is approximately 13% below its 50-week moving average, suggesting that the market bottom has not yet formed and may face further declines.
Historical Pattern Analysis: According to McGlone's research, genuine market bottoms in Bitcoin's history typically occur when prices fall about 55% below the 50-week moving average, providing a crucial risk reference for the current market.
Market Volatility Impact: Should Bitcoin's price continue to decline, it could exert pressure on mining economics while also leading to broader volatility in the digital asset market, potentially affecting institutional adoption timelines.
Importance of Risk Management: McGlone's analysis underscores the significance of historical data, reminding investors to focus on risk management and historical awareness in the complex cryptocurrency market rather than short-term sentiment.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	41959.884	50979.942	61383.884	70403.942	80807.884	89827.942	100231.884
Fibonacci	50979.942	58399.91	62983.974	70403.942	77823.91	82407.974	89827.942

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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