Bitcoin needs to stay above $100,000 to avoid negative market reactions and potential deflationary pressures

From Investing.com

January 24, 2025 12:00:20 PM:

Mike McGlone of Bloomberg Intelligence emphasizes the importance of Bitcoin staying above $100,000. He predicts continued price growth and warns of potential financial market reactions if BTC drops below this level. The recent price increase was mainly attributed to Trump’s election victory, and McGlone stresses the need for prices to rise further to avoid a bubble peak. He suggests that a Bitcoin decline could lead to deflationary pressures, lower bond yields, and increased interest in gold as a safe haven asset.

Read more at Investing.com: Here’s What Happens If Bitcoin Falls Under $100,000, Mike McGlone Warns By U.Today