Bitcoin may still be the "fastest horse" in the risk asset race, but its signals are anything but encouraging for bulls, says Bloomberg's Mike McGlone.
Bitcoin (BTC) is still “rolling over” as its value versus the S&P 500 stays well clear of all-time highs.
In his latest analysis on X, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, suggested that the risk-asset race “may be over.”
Bitcoin has struggled to match its latest all-time high from March, but another metric suggests deeper systemic weakness.
