--- title: "Bitcoin's Bounce Is a 'Gift To Sell,' Bloomberg's McGlone Cautions" type: "News" locale: "en" url: "https://longbridge.com/en/news/296831563.md" description: "Bloomberg strategist Mike McGlone warns that Bitcoin's recent rebound is a 'gift to sell,' citing the 30-year Treasury yield hitting its highest level since 2007. He argues high yields compete with non-yielding assets like Bitcoin and gold, creating headwinds. McGlone also notes US market capitalization extremes and low S&P 500 volatility relative to gold as signs of broader risk. Technical analysis shows BTC facing resistance at $79,700 with bearish divergence indicators." datetime: "2026-08-24T21:09:34.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296831563.md) - [en](https://longbridge.com/en/news/296831563.md) - [zh-HK](https://longbridge.com/zh-HK/news/296831563.md) generator: "portal-rs" --- # Bitcoin's Bounce Is a 'Gift To Sell,' Bloomberg's McGlone Cautions Bloomberg Intelligence senior commodity strategist **Mike McGlone** on Monday called **Bitcoin’s** (CRYPTO: BTC) rebound a selling opportunity as the 30-year Treasury yield hit its highest level since 2007. McGlone posted on X that Bitcoin has rolled over into a bear market with knock-on effects for other risk assets. “Welcome to volatility season,” he wrote, adding that the current bounce “may be a gift to sell.” ### Why Are High Treasury Yields a Headwind for Bitcoin? **Maturity** **Yield** **Note** 30-year 5.31% (Aug 17), eased to 5.23% (Aug 20) Highest since 2007 20-year 5.20% — 10-year 4.69% Held steady 30-year real yield 2.95% Inflation-adjusted 10-year real yield 2.35% Inflation-adjusted *Source: Federal Reserve H.15 release.* High bond yields create direct competition for Bitcoin and gold by offering substantial returns through government-backed securities, while also raising borrowing costs, reducing liquidity, and increasing the discount rate applied to long-duration assets that generate no earnings or interest. ### Why McGlone Sees Broader Market Risk McGlone extended his warning beyond crypto, noting US market capitalization has reached roughly 2.5 times GDP and 2.1 times publicly held debt, levels he called multidecade extremes suggesting the stock market has become the economy. He also flagged that the **S&P 500’s** (NYSE:SPY) 260-day volatility reading is roughly half gold’s equivalent — the lowest relative level since 2007 Meanwhile, gold’s 200-day moving average is turning lower, which McGlone calls another potential “falling domino” as rising yields pressure non-yielding assets broadly ### Bitcoin Price Prediction: Technical Analysis BTC tagged $79,700 for the third time since last week’s explosive 24% rally.  RSI at 58.63 shows a bearish divergence with price making higher highs while momentum fails to confirm, and the MACD histogram is shrinking after its second peak. #### Key levels for BTC: - $79,700 — Resistance - $76,700 — First support - $75,300 — Second support *Photo via Shutterstock* ### Related Stocks - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [SH.US](https://longbridge.com/en/quote/SH.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md) - [SDS.US](https://longbridge.com/en/quote/SDS.US.md) - [SPYI.US](https://longbridge.com/en/quote/SPYI.US.md) - [JEPI.US](https://longbridge.com/en/quote/JEPI.US.md) - [XYLD.US](https://longbridge.com/en/quote/XYLD.US.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) ## Related News & Research - [Bitcoin Standard Treasury Company (BSTR) Terminates Business Combination, Team Continues Pursuing Active Bitcoin Treasury Management | CEPO Stock News](https://longbridge.com/en/news/296540800.md) - [Amboss Opens Affiliate Program: Earn Recurring Bitcoin Commissions by Growing Bitcoin Payments](https://longbridge.com/en/news/296124824.md) - [K33 boosts effective bitcoin exposure via Sixty Six option for up to 200 BTC](https://longbridge.com/en/news/296742890.md) - [LQWD Technologies CEO to Speak at Bitcoin Asia 2026 in Hong Kong | LQWDF Stock News](https://longbridge.com/en/news/296496835.md) - [Fundstrat Sees 30% Swing In Bitcoin’s Price](https://longbridge.com/en/news/296239209.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**