Mike McGlone, Senior Commodities Strategist at Bloomberg Intelligence, has suggested that the current decline in cryptocurrency markets may signal the onset of a "post-inflation deflationary domino effect." McGlone noted that the previous surge in crypto markets, driven by increased supply, has led to a price correction, partially reversing earlier overvaluations. He also highlighted geopolitical tensions in Iran as a potential catalyst for a U.S. economic recession, with U.S. stock valuations at historical highs and Nasdaq 100 Index volatility at its lowest since 2018. McGlone anticipates that if volatility rises, it could mark a significant market turning point. Additionally, he forecasts that U.S. Treasury bonds may outperform other assets in 2026, following Bitcoin and gold in previous years.