Mike McGlone, an intelligence strategist, reversed his long-term view on Bitcoin and the broader crypto market. He urged investors to “sell the rallies” across risk assets in 2026; the view appeared in a recent interview.
He said Bitcoin lost its scarcity edge and entered a crowded, speculative ecosystem. It now tracks equities and looks vulnerable to the same macro forces.
Mike McGlone cited excessive speculation, ETF approvals and unusually low volatility as warning signs. He compared current conditions to past market peaks.
He said Bitcoin moved from a hedge to being inside the system, changing its role. He extended the bearish outlook to stocks, commodities and precious metals.
McGlone warned that gold’s rally may signal deeper instability rather than clear strength. He added that when “the stupid rock” starts outperforming, investors should pay attention.
