[Bloomberg Analyst: BTC May Retrace to $50,000] According to a report by Jinse Finance, Bloomberg analyst Mike McGlone stated on social media that the extreme complacency in the stock market may indicate that risk assets are likely to decline further, with BTC potentially leading the drop. Currently, the BTC/gold price ratio is approximately 20x, while Bloomberg's economic model suggests its fair value is closer to 13x. McGlone pointed out that the 120-day volatility of the S&P 500 Index is approaching its lowest year-end level since 2017, which is one of the main reasons for the BTC/gold ratio reverting to 13x. The analyst believes this could be a normal mean reversion phenomenon, indicating that BTC's price may retrace to the $50,000 level.