Bloomberg Intelligence strategist Mike McGlone has highlighted Bitcoin's resilience as a potential safeguard against a U.S. stock market crash. McGlone suggests that Bitcoin's stability might be crucial in preventing a deflationary downturn similar to past economic corrections. He emphasized that the current equity market valuation, at approximately 2.3 times nominal GDP, is significantly higher than the historical average of 1.75 times GDP, indicating potential overvaluation. McGlone also pointed out the contrasting trends in gold and crude oil markets, with gold reaching record highs while oil prices decline, reflecting global economic stress. He warned that renewed market volatility in the fourth quarter could disrupt the current trajectory, underscoring the importance of Bitcoin's role in maintaining market stability.