Bitcoin May Turn to Bearish Signal for Risk Assets in 2026, Bloomberg Analyst Says

BTC1.19%
According to Mike McGlone, Bloomberg's chief commodities strategist, Bitcoin may be shifting from a bullish indicator to a bearish signal for risk assets in 2026. McGlone suggested that on a 10x scaled comparison with the S&P 500, beta assets could enter a down year in 2026, similar to historical patterns. He noted that since 2009, the S&P 500 has posted annual declines only in 2018 and 2022, both of which coincided with Bitcoin downturns and U.S. midterm election cycles.
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