Fifty days into 2026, bitcoin is off to its worst start to a financial year on record, according to Checkonchain data. The asset is down 23% year to date, having fallen 10% in January and a further 15% in February.Bitcoin has never previously recorded back-to-back declines in January and February, according to Coinglass data. While there have been double digit drops in January in years such as 2015, 2016 and 2018, each of those was followed by a positive February. If losses hold, bitcoin is also on track for its weakest consecutive monthly performance since 2022.Checkonchain data shows that in…

Bloomberg Intelligence’s Mike McGlone appeared to walk back his $10,000 forecast for bitcoin, instead highlighting $28,000 after being challenged on social media and accused of being an alarmist whose “nonsensical” forecasts put real capital at risk.Earlier this week, McGlone warned that collapsing crypto prices could signal broader financial stress and that bitcoin could revert toward $10,000 if U.S. equities peak and recession follows. He framed the token as a high-beta risk asset vulnerable to a breakdown in the post-2008 “buy the dip” regime.But in a subsequent post on X, McGlone pointed to $28,000 as a more probable level based on…

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