Bloomberg Intelligence's senior commodity strategist, Mike McGlone, has reiterated his bearish outlook on Bitcoin, suggesting it could fall below $10,000. McGlone argues that the cryptocurrency market remains in a macro-driven correction phase, with Bitcoin's increasing correlation to speculative assets undermining its role as a market-independent hedge. He believes the market needs to clear excessive speculation. However, industry insiders challenge this view. The CEO of Quantum Economics contends that only extreme events like a global liquidity crisis or nuclear war could drive Bitcoin to $10,000. Analysts from AdLunam suggest a drop to $28,000 might require significant financial stress. Meanwhile, a senior market analyst at PrimeXBT predicts Bitcoin will consolidate between $60,000 and $70,000, with a major accumulation zone between $30,000 and $40,000, dismissing the $10,000 target as unlikely. Some analysts believe Bitcoin's major bear market correction concluded in 2022, with current prices indicating a potential bottom.