Bitcoin’s crashes are shrinking, and Wall Street is starting to notice

Not all analysts agree that further drawdowns are over, as Bloomberg Analyst Mike McGlone insists the crypto bubble is over and bitcoin could still revisit $10,000. What to know : Bitcoin’s latest downturn has been closer to 50% rather than the 80% to 90% crashes of past cycles, which analysts say signals a maturing market structure and deeper liquidity. Supporters argue that as institutional participation grows, bitcoin’s volatility and likelihood of catastrophic drawdowns diminish, making it function more as a portfolio efficiency tool than a speculative bet. While some, including a Bloomberg strategist, still warn of a potential slide toward $10,000, others contend that bitcoin’s scale, integration into ETFs and pensions, and strong long-term risk-adjusted returns make such collapses increasingly unlikely.