Bitcoin Outlook Darkens as Mike McGlone Flags Bear Market Signals and $10,000 Risk

On 6 February 2026, Bloomberg's Mike McGlone warned that Bitcoin's current cycle is increasingly similar to previous deep bear markets and could slide toward $10,000 if equities weaken. He highlighted the rollover of Bitcoin's 200-day moving average, heavy volatility in the IBIT spot ETF with over $10 billion traded on a 13% drop, and a $12.4 billion corporate loss as signs of mounting stress while the price hovers near $62,000.