Crypto
Bitcoin boom over? Bloomberg warns of underperformance versus U.S. Treasuries
A warning has emerged that the broader cryptocurrency market could be shaken if bitcoin continues to weaken against U.S. Treasuries. U.Today reported on Nov. 1 that Bloomberg Intelligence senior commodity strategist Mike McGlone said bitcoin is at a major inflection point in its relative performance versus U.S. government bonds. He highlighted $80,000 as a key level and pointed to underperformance by a BlackRock bitcoin ETF relative to a long-term Treasury ETF.
