Is Bitcoin About to Crash Like It’s 2008? Bloomberg Strategist Warns Us All!

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Ah, the tumultuous world of finance, where charts and graphs dance like drunken walruses at a gala-entertaining yet utterly chaotic. It appears that, for our dear year of 2026, the pièce de résistance of macroeconomic analysis might not involve the usual suspects such as interest rates, earnings reports, or the ever-mysterious Fed. No, dear reader, it’s a battle royale between Bitcoin and gold, with Bloomberg’s own Mike McGlone ringing the alarm bells like a beleaguered town crier.

In this grand spectacle, two illustrious charts have emerged from the shadows to steal the limelight. The first, a rather alarming display, showcases the S&P 500 priced in good old gold ounces-plummeting below a threshold eerily reminiscent of 1929. A level breached only during the most disastrous market descents, such as those delightful escapades brought forth by Nixon’s misguided policies and the infamous collapse of Lehman Brothers. Truly, it’s a veritable parade of disaster.

Next, we are presented with the contrasting tale of a waning Bitcoin/gold ratio amid a stock market valuation that remains stubbornly inflated, hovering around an almost ludicrous 21% of GDP-like a peacock strutting about with its feathers on full display while the rest of the garden lies in disarray.

McGlone, with the forthrightness of a schoolmaster scolding a particularly troublesome pupil, asserts that this breakdown in the S&P/gold ratio is crucial. We are witnessing a classic “beta unwind” phase that tends to squash risk assets like an overripe tomato, while simultaneously rewarding those steadfast stores of value that refuse to be swayed by mere market whims. An ominous echo of 2008 and 1973, when stocks collectively decided to lose over 50% of their value before embarking on a rather limp recovery.

But wait! Here comes the twist from the crypto realm

The Bitcoin/gold ratio, once heralded as a reliable barometer of public sentiment, is now descending even as stock indexes frolic to new highs-oh, the irony! McGlone, with a glint of skepticism in his eye, suggests this is not a bullish divergence but a nefarious trap, one that will ensnare unwitting investors as equities follow crypto into the abyss-how delightfully morose.

A complete unraveling of this ratio could signal a liquidity crisis akin to that of 2008, especially as silver and crude oil begin to look like the punchline of a bad joke. Moreover, it could transform Bitcoin’s narrative from being an inflation hedge to a harbinger of systemic risk-quite the transformation, wouldn’t you agree?

In any case, brace yourselves, for 2026 may very well be the year when the market learns to regard gold with newfound respect-not because it ascends to greatness, but because everything else tumbles down like a house of cards caught in a tempest.

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2026-01-20 18:05