A Bloomberg Intelligence strategist said a clearer crypto buying opportunity may only emerge after the Bloomberg Galaxy Crypto Index falls as much as 50% from its recent peak.
Senior commodity strategist Mike McGlone warned that continued volatility and weak price retention reflect mounting pressure across digital assets despite earlier rallies.
The index, which peaked near 4,000 in 2025, could decline toward deeper support levels, potentially signalling a more attractive entry point once market conditions stabilise.
“There’s going to be a great time to buy cryptos — it just may be after another 50% decline in the Bloomberg Galaxy Crypto Index,”
Said Bloomberg Intelligence senior commodity strategist, Mike McGlone.
McGlone said the index has remained broadly flat over the past five years while the S&P 500 nearly doubled, with crypto showing roughly four times the volatility without sustaining long-term gains.
He added that expanding supply across millions of tokens continues to weigh on performance, describing the market as oversupplied and struggling to maintain upward momentum.
The strategist also suggested bitcoin’s surge above $100,000 in 2025 may represent a lasting peak under current conditions, with further downside risks if broader market weakness persists.
At the time of reporting, Bitcoin price was $79,254.55.