From Investing.com

April 14, 2025 2:30:00 pm:

According to Bloomberg’s Mike McGlone, Bitcoin is facing a “hangover” after experiencing its “biggest pump in history.” The cryptocurrency surged to a record high of $64,863 in April before experiencing a significant drop in value. McGlone suggests that this volatility may lead to a period of consolidation for Bitcoin.

The massive price increase of Bitcoin was fueled by institutional investors and corporate endorsements, such as Tesla’s announcement that it would accept Bitcoin as payment. However, the sudden drop in value has raised concerns about the sustainability of the cryptocurrency’s current price levels. This has led to speculation about whether Bitcoin is entering a bear market phase.

McGlone believes that Bitcoin’s price correction is a normal part of its market cycle and that the cryptocurrency will likely continue to attract institutional interest in the long term. He points to the increasing adoption of Bitcoin by companies and investors as a sign of its growing mainstream acceptance. The future of Bitcoin remains uncertain, but many experts remain optimistic about its potential for long-term growth.

Read more at Investing.com: Bitcoin Facing ‘Hangover’ After ‘Biggest Pump in History,’ Bloomberg’s Mike McGlone Says