Bitcoin at $100K is ‘speed bump’ to $56K, but data signals no signs of panic

Bloomberg analyst Mike McGlone says Bitcoin hitting $100,000 is “a speed bump” to $56,000, but other analysts say Bitcoin has bottomed out.

Bitcoin’s price may decline by almost 50% if its current downward trend over the past month continues, says a traditional finance analyst.

However, onchain analytics firm Glassnode suggested that Bitcoin’s (BTC) current downtrend may not be as severe as some market participants believe.

Bloomberg analyst Mike McGlone said in an X post on Thursday that Bitcoin hitting $100,000 could be “a Speed Bump Toward $56,000.”

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