Bitcoin BTC Price News Today: Bitcoin Is Under Serious Pressure as Global Recession Fears

Bitcoin is under serious pressure as global recession fears, high interest rates, and escalating tariff tensions continue to shake investor confidence.

Global macroeconomic fears, high interest rates, and escalating tariff tensions continue to weigh heavily on investor confidence, putting Bitcoin under serious pressure.

Despite consistent interest in the crypto market, BTC is struggling to break out and move above the key resistance at $85,000.

Bitcoin trades at around $84,596 at press time, showing a slight increase in the last 24 hours. However, it’s still trading nearly 22% below its all-time high of over $109,000, which was set earlier this year.

The momentum in BTC appears to be slowing down, prompting some analysts to ask: Is another crash coming?

Bitcoin Price Drop Reasons: Global Recession, High Interest Rates, and Deflation Fears

In a recent Altcoin Daily podcast, Bloomberg Intelligence’s Mike McGlone, trader Scott Melker, and market expert Gareth Soloway discussed Bitcoin’s future and issued a chilling warning.

Bloomberg Intelligence, senior commodity strategist Mike McGlone, warned that Bitcoin could crash to $10,000 if macroeconomic conditions worsen. More specifically, if the S&P 500 sees a sharp correction down to 4,000 points.

If the S&P drops to 4,000, we can expect to see Bitcoin at an average price of around $10,000. It’s also the 200-week exponential moving average and a long-term fair value zone for Bitcoin. Plus, if you look at Bloomberg’s proprietary Bitcoin driver index, it suggests that current fundamentals value Bitcoin at below $17,000.

But Altcoin Daily’s analyst provides a more hopeful view.

They note that even if there’s a return to $20,000 during a severe recession, Bitcoin has shown resilience during recent corrections. For instance, it didn’t retest old highs despite a 10% drop in the S&P.

And with global liquidity now at an all-time high thanks to rate cuts and QE outside the U.S., the odds of a massive collapse in Bitcoin seem slim.

Unless Bitcoin manages to break below $69,000 decisively, the analyst believes that it’s unlikely to see new lows in the BTC market.