Bitcoin may have hit its peak, according to insights from Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence. In a recent post on X, McGlone highlighted troubling signals within the broader financial markets that could indicate an overheated market for Bitcoin.
McGlone pointed out a significant imbalance in the gold-oil market, citing that as gold prices surged by 65% in 2025 to over $4,000, crude oil prices suffered a 20% drop to about $60. This unprecedented “gold-oil disparity” raises concerns for Bitcoin”s future performance, particularly as investors increasingly seek refuge in safer assets like gold.
Historically, the strategist noted, a rise in safe-haven assets often precedes struggles for risk assets such as Bitcoin. Given the current market conditions, McGlone expressed skepticism about Bitcoin”s strength being sustainable, suggesting that a correction may be on the horizon as the cryptocurrency shows signs of overheating.
Adding to the cautious sentiment, long-time Bitcoin skeptic Peter Schiff echoed concerns about a possible crash, advising investors to consider selling their holdings before potential declines. Notably, Bitcoin reached a remarkable peak of $126,198.07 in October 2025 but has since faced considerable volatility.
In the last month alone, Bitcoin has dropped to a low of $84,000, struggling to maintain momentum despite temporary rallies. As of the latest updates, the cryptocurrency trades at approximately $95,076.40, reflecting a 0.99% decrease within the past 24 hours. The price has fluctuated between $95,103.24 and $97,015.35 during this period.
Concerns about market supply have arisen following a miner sell-off, which has intensified pressure on prices. The trading volume has decreased by 24.88% to $43.8 billion, leading to worries about further sell-offs if the current pattern persists and price resistance at $96,000 continues.
Despite these challenges, Bitcoin”s market dominance remains strong at 59.17%, indicating that many investors prefer it over altcoins. If Bitcoin can stabilize above the $93,000 mark, there is potential for a resurgence towards the elusive $100,000 threshold.
Contrastingly, Matt Hougan from Bitwise remains optimistic, suggesting that Bitcoin could emulate gold”s explosive growth if demand from exchange-traded funds remains robust. The market”s future direction hinges on how these dynamics unfold in the coming weeks.
