Speaking in a CoinTelegraph interview on June 2, McGlone argued Bitcoin remains stuck in a broader "purge mode," with the next major support zone likely around $50,000 before potentially falling toward $10,000 longer term.Why McGlone Is WorriedMcGlone pointed to several macro indicators that he believes signal elevated systemic risk:
U.S. stock market capitalization-to-GDP ratio reaching the highest level since 1928
Gold volatility surging above S&P 500 volatility
Bitcoin-to-gold ratio weakening sharply
Crypto persistently underperforming equities
