Bitcoin (BTC) Might Suffer a 91% Decline From Its All-Time High of $109,000

An analyst revealed that Bitcoin might suffer a 91% decline from the coin's all-time high of $109,000 per coin

An analyst at Bloomberg Intelligence has revealed that Bitcoin might suffer a 91% decline from the coin’s all-time high of $109,000 per coin in January 2025, suggesting that the most popular cryptocurrency could be heading for a devastating collapse.

According to Mike McGlone, an analyst at Bloomberg Intelligence, Bitcoin might plummet to a low of $10,000 per coin, which will reignite concerns that Bitcoin might experience another deep correction similar to 2011 when Bitcoin dipped by as much as 92%.

BTC To Crash To $10K?

McGlone predicted that Bitcoin might be heading to what he described as a devastating collapse, resulting in the crypto sliding to $10,000.

If Bitcoin will plunge to $10,000, it will represent a 90% decrease from BTC’s all-time high of $109,000 in January 2025. On the other hand, it will fall by 88% if based on its current price of about $83,000.

The analyst explained that Bitcoin is more likely to face a significant correction that might push it downward to $10,000. Historically, the firstborn crypto experienced a deep correction in 2011 when the BTC declined to 92% from its high at that time.

Has The Crash Begun?

In an X post, McGlone suggested that Bitcoin’s crash to $10,000 may have already started, adding that risk markets are showing signs of overheating while gold rises.

The analyst explained that gold has increased by 1% while Bitcoin went down, saying, “But with Bitcoin at about $80,000, what stops those trajectories?”

“About a 6% decline in the S&P 500 could suggest what matters. The biggest #ETF launch in history, President Donald Trump’s shift to highly volatile and speculative #cryptos, and reelection could prove [a] peak-bubble akin to about 25 years ago,” he added in a post, suggesting that BTC might have reached the peak of a dot-com-style bubble.

Many Bitcoin proponents and analysts disagree with McGlone’s analysis, with one crypto analyst, David Weisberger countering the evaluation of the Bloomberg analyst, saying his assessment was flawed.

Weisberger argued that the scenario in McGlone’s analysis is unlikely to happen. “I think none of the above will happen with a chance the stock market crashes, which, of course, would trigger a flood of liquidity.”