Bloomberg Experts Predicts Bitcoin Crash to $10,000 in 2026 Along With Gold

Key Insights:

• According to 10x Research, Bitcoin price losing the $69K level marks a structural change in the overall crypto market.
• Gold has entered a bear market, dropping over 20% since the Us-Iran war started, marking its worst week since 1983.
• Long positions unwinding, negative funding rates, and rising demand for downside protection amid this Bitcoin crash.

Bitcoin’s price has once again retraced as bulls fail to hold it above $70,000. BTC continues to face selling pressure and is currently trading at $68,680 amid escalating US-Iran tensions in the Strait of Hormuz. Bloomberg experts predict a Bitcoin crash to $10,000 later this year, along with a major fall in Gold price.

Why A Bitcoin Crash to $10,000 Is Possible?

In his latest post on X, Bloomberg’s senior commodity strategist Mike McGlone outlined a bearish outlook for Bitcoin and the broader crypto market. He warned that the current geopolitical and macro conditions could lead to a major market reset.

McGlone said rising geopolitical tensions and potential military escalation in the Middle East. He added that the current conditions are quite similar to the unwinding of a speculative access in the market.

McGlone predicts a decline in crude moving forward, along with a downside in equities. Within this framework, McGlone reiterated his view that Bitcoin could struggle to maintain higher price levels. He added that the key support for BTC is at $50,000, while suggesting the possibility of a bigger Bitcoin crash to $10,000.

However, recently, Bitcoin has been doing much better in comparison to the yellow metal, Gold. The price of physical gold has been sliding, correcting by over 20% in 2026 to $4,350 per ounce.

Bitcoin Price Enters Critical Juncture

Crypto research firm 10x Research has warned that Bitcoin is approaching a critical juncture after losing $69,000. The researchers noted that it signals a critical shift in the Crypto market structure.

According to the firm, derivatives positioning has turned increasingly cautious. Futures traders have unwound long positions, while crypto funding rates have moved into deeply negative territory.

At the same time, options markets show rising demand for downside protection. Moreover, the implied volatility has climbed back into the mid-60% range, and skew remains firmly negative.

10x Research noted that the market is no longer focused on a Bitcoin price breakout toward $75,000. Instead, it is preparing for heightened uncertainty and a potentially larger move. The firm added that macro conditions are contributing to the shift, as markets begin pricing in possible rate hikes despite the Federal Reserve’s guidance toward cuts.

The report also highlighted a growing divergence between steady spot Bitcoin ETF inflows and bearish signals from derivatives markets.

Gold Enters A Bear Market

Gold has entered a technical bear market, falling approximately 22% from its recent record high. This comes amid the rising geopolitical tensions and the ongoing US-Iran war. The precious metal also recorded its worst weekly performance since 1983.

Analysts noted that the recent rally to around $5,500 was driven more by positioning and crowded trades than by pure safe-haven demand. This was largely driven by central bank demand after the US sanctions on Russia.

However, current conditions may be reversing that trend. Some countries have shown intent to shift from accumulating reserves to deploying them amid rising economic and geopolitical pressures.

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