CryptoQuant Challenges Bloomberg's $10K Bitcoin Prediction
CryptoQuant's founder disputes Bloomberg's bearish Bitcoin forecast, citing institutional support and on-chain metrics.
CryptoQuant's founder disputes Bloomberg's bearish Bitcoin forecast, citing institutional support and on-chain metrics. Bitcoin (BTC) is trading at ₹77,63,595 ($81,657.00). This is an original Token Times brief based on reporting by Cointribune, with live market data added, as of Sun, 18 Oct 2026 09:00:02 UTC.
This debate highlights contrasting perspectives on Bitcoin's price trajectory amid macroeconomic uncertainty, with significant implications for investor sentiment and market positioning.
- Bloomberg's Mike McGlone predicts Bitcoin could drop to $10K if US stocks fall 20%.
- CryptoQuant's Ki Young Ju sets a theoretical floor at $30K based on institutional activity.
- Market cap remains at $2.8T with Bitcoin trading around $8150.
Bloomberg Intelligence strategist Mike McGlone has suggested that 
Bitcoin could fall to $10,000 if US stocks experience a 20% decline. This prediction is based on the assumption of a broader market downturn affecting crypto assets.
In response, Ki Young Ju, founder of blockchain analytics firm CryptoQuant, has rejected McGlone's forecast. Ju argues that Bitcoin has a stronger support level around $30,000, citing institutional purchases and on-chain valuation as key factors.
The debate between McGlone and Ju reflects differing views on Bitcoin's resilience. While McGlone emphasizes potential macroeconomic headwinds, Ju points to fundamental indicators suggesting underlying strength.
Currently, the total cryptocurrency market cap stands at $2.8 trillion, with Bitcoin trading at approximately $8,157, showing a slight 24-hour decline of 0.06%. The Fear & Greed Index remains at 53, indicating a neutral market sentiment.
This disagreement highlights the importance of monitoring both macroeconomic trends and on-chain data when assessing Bitcoin's price movements. Investors will be watching for further developments in US stock markets and Bitcoin's trading volume for additional clues.
Since this brief published about 3 hours ago, Bitcoin (BTC) has moved from ₹77,55,988.50$81,577.00 to ₹77,63,594.56$81,657.00 — +0.10%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin reach $84,000 October 12-18?
Crowd-implied probability on Polymarket, ₹4.72M 24h volume, resolves Oct 19 — snapshotted when this brief published (Oct 18 08:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.49M (about $81,657.00), up 0.0% over 24 hours. The rupee itself trades about 9.3% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
CryptoQuant Challenges Bloomberg's $10K Bitcoin Predicti — questions & answers
What is Bloomberg's prediction for Bitcoin's price?
Bloomberg predicts Bitcoin could drop to $10,000 if US stocks fall 20%.
Why does CryptoQuant disagree with Bloomberg's forecast?
CryptoQuant disagrees because it believes Bitcoin has a support level around $30,000 due to institutional buying and on-chain valuation.
What is the current state of the cryptocurrency market?
The total market cap is $2.8 trillion, with Bitcoin at $8,157, showing a slight 24-hour decline.
How much is 1 Bitcoin worth in rupee today?
About ₹8.49M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $81,657.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is up 0.10% since this brief first published — trading at ₹77,63,595 ($81,657.00) now versus ₹77,55,989 ($81,577.00) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Cointribune. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.