Bloomberg analyst warns BTC, Nasdaq, commodities may face year-end declines

Bloomberg Intelligence macro strategist Mike McGlone indicated that declines could affect financial markets through year-end as Bitcoin, U.S. equities, and major commodities have each reached peaks in sequence. BTC peaked on October 6 last year, the Nasdaq 100 peaked on October 6 this year, and gold, silver, and crude oil also hit highs in the first quarter of this year. McGlone noted that a shift in the Federal Reserve’s tightening stance and changes in the political balance of power could heighten downward pressure on markets. Additionally, policy shifts away from measures that had supported energy prices and inflation could accelerate the post-inflation deflation cycle.

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