Bitcoin’s Brief Rebound: A Fantasy or the Start of a Dramatic Fall?

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Well, well, well, Bitcoin (BTC) seems to be having a little party, with a 12% gain over the last seven days and a rather cheeky return to the $90,000 mark. But don’t pop the champagne just yet, darling. Mike McGlone, Bloomberg’s senior commodity strategist and general cynic of all things crypto, has raised an eyebrow and suggests that this little bounce could be nothing more than a cruel joke, followed by a swift and painful decline. Yes, you heard that right-more bloodbath, anyone?

Bitcoin’s Love Affair with the S&P 500: A Drama Waiting to Happen

According to McGlone, this rebound might just be a blip before Bitcoin crashes down to $50,000 in a “typical reversion.” Oh, joy! Based on his oh-so-reliable patterns, Bitcoin has this nasty little habit of undoing its gains and heading straight for the $50,000 mark-a lovely 45% drop from where we are now. So, before you start dreaming of Lambos, perhaps prepare yourself for the possibility of a quick and painful return to that level.

Now, what’s behind this rather bleak prediction? McGlone is blaming deflationary signals and the ever-so-predictable calm of the S&P 500. The man’s convinced that Bitcoin and the S&P 500 are like long-lost cousins who can’t seem to stop mimicking each other. When the S&P 500 catches a cold, Bitcoin tends to catch a worse one. How charming!

Typical Bitcoin $50,000 Reversion May Guide Deflation – Bitcoin appears on track to revisit its yearly pivot around $50,000, with deflationary implications. The graphic shows the crypto’s close connection with the S&P 500 and a key reason Bitcoin might fall further: S&P 500’s…

– Mike McGlone (@mikemcglone11) November 28, 2025

According to McGlone’s rather bleak analysis, when the S&P 500 is strolling along in a calm, steady manner-or worse, slipping downhill-Bitcoin follows suit. How wonderful for us, right?

He also pointed out that the S&P 500’s 120-day volatility is currently a minuscule 11.3%. Such a low number, it’s almost as if the market is in a state of sheer complacency, resting before the storm. And we all know how that story goes, don’t we? Time to buckle up, folks.

So, if McGlone is right, Bitcoin may not be enjoying the best of times. With falling commodity prices, a lack of risk appetite, and a tightening economic environment, it’s safe to say that the crypto world might be heading for some cold, hard deflation. Don’t say we didn’t warn you when Bitcoin slides back to $50,000. Grab your popcorn, folks. The show’s just getting started.

McGlone’s view isn’t entirely unique, either. A recent survey from Polymarket shows that 74% of traders are betting against Bitcoin reaching $100,000 anytime soon. They’re not convinced by the temporary rise of the asset, and frankly, who could blame them?

Can Bitcoin Prove the Bears Wrong? Or Are We Just Watching a Slow-Motion Car Crash?

The pessimism sweeping through some Bitcoin circles could be the result of a rather disappointing year for the coin. Last Thanksgiving, Bitcoin was strutting its stuff at a fabulous $95,737 after a glorious rally. This year, however, it’s not been able to replicate that glamorous feat. Oh, what a shame!

Over the past 24 hours, Bitcoin did manage to rise from a low of $90,604.51 to a tantalizing high of $92,969.09. But, as is typical with these things, the coin has slipped back a little and is now sitting at $92,686.04-a modest 2.06% increase. A real rollercoaster, isn’t it?

The real kicker, though, is the trading volume, which has dropped by a staggering 24.98%, to a mere $53.91 billion. What a tragedy! The next few days will determine if Bitcoin can prove all the naysayers wrong, or if it’s just going to be another case of “I told you so.”

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2025-11-28 20:26