Bitcoin’s Next Move Could Shake Stocks And Metals: Bloomberg Strategist Warns As Fidelity Sees Bull Run

  • Mike McGlone said Bitcoin was “rolling over from an extended plateau akin to 2018 and 2022.”

  • He said that “dominoes could tumble” if it failed to prove strength.

  • Fidelity’s Jurrien Timmer said “a new 4-year cycle bull market could be underway” for Bitcoin, adding that “bull markets rarely start with” a narrative.

Mike McGlone, a Bloomberg Intelligence senior commodity strategist, said on Sunday that Bitcoin (BTC) “may have to prove strength, because if it doesn’t, dominoes could tumble” for stocks and metals, even as Fidelity’s Jurrien Timmer said a new bull market for crypto could already be underway.

McGlone explained that Bitcoin was “rolling over from an extended plateau akin to 2018 and 2022,” based on a chart of 50-week moving averages. He described Bitcoin as “a leading indicator for risk assets since its inception in 2009.”

See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox

Screenshot 2026-10-18 at 11.15.25 AM.png
Source: @mikemcglone11/x

According to him, the S&P 500 (SPX), the Bloomberg Commodity All Metals Total Return Subindex and copper have not followed Bitcoin lower, as they did in earlier crypto bear markets, which set the period apart. “Is the first-born crypto issuing a warning or a feint?” he wrote.

McGlone also called October “notorious for market inflection points” and said that Federal Reserve rate-hike expectations “may signal an endgame for rapidly rising risk-assets, wealth creation and inflation.”

So far, the month has not gone Bitcoin’s way. The apex cryptocurrency is down more than 2% in October and on track for its first back-to-back losing October in more than a decade.

Bull Markets Rarely Start With A Narrative

Screenshot 2026-10-18 at 1.32.00 PM.png
Source: @TimmerFidelity/x

Timmer, Fidelity’s director of global macro, read Bitcoin’s chart differently, saying that “a new 4-year cycle bull market could be underway,” based on Bitcoin’s power law patterns. “There doesn’t seem to be a narrative, but then again, bull markets rarely start with one,” Timmer said. His chart placed Bitcoin’s current reading in the area Fidelity labeled the “accumulation zone.”

Liquidity Holds The Key

Both strategists flagged tighter conditions in the near term. Timmer said gold and Bitcoin “both remain in holding patterns,” and added that gold saw steady inflows but continued “to be held down by a deceleration in global liquidity growth,” which he tied to tightening financial conditions.

The Fed raised its target range to 3.75% to 4.00% in September and is scheduled to meet again between October 27 and October 28.

Bitcoin’s price fell 0.2% over the past 24 hours. On Stocktwits, the retail sentiment around BTC moved to the ‘extremely bearish’ from ‘bearish’ zone, while chatter around it stayed at ‘low’ levels over the past day.

Source link

Visited 1 times, 1 visit(s) today

Related Article

3 Canadian Growth Stocks With At Least 43% Earnings Growth

Accelerating US inflation, driven by sharp moves in energy prices, keeps pressure on interest rates and has made dependable earnings growth harder to find. That is where a group of financially solid Canadian growth stocks becomes interesting. According to analyst estimates, these companies are projected to increase profits over the next few years while maintaining

Trump’s Marijuana Order Is Stuck at the DEA. Here’s What That Means for Canopy Growth.

Last December, President Donald Trump issued Executive Order 14370, intended to fast-track the rescheduling of marijuana to Schedule III, in turn paving the way for federal regulatory clarity. At the time, marijuana stocks, including Canopy Growth (NASDAQ: CGC), surged sharply on the news, with Canopy itself surging from $1.15 to nearly $2 per share. Shares

Tenaz Energy And 2 Canadian Founder Led Growth Stocks

Powered by spikes in energy prices, September inflation reached 3.7% in the latest US data and reminded investors how quickly costs can reshape returns. That kind of shock often pushes interest toward fast growing Canadian businesses where founders still own a lot of stock and have their own wealth at risk. This article highlights three

GLOBAL MARKET CALL: Downgrading ‘Go Global’ To Market Weight

We are downgrading the “Go Global” portfolio strategy from overweight to market weight and raising “Stay Home” (in the US) from underweight to market weight. Overseas earnings remain impressive, but the rallies in emerging market economies’ stock markets have been led by just a handful of AI-related stocks. Last week’s rout in South Korea showed

Netflix Stock Has Been on a Roll. Here’s Where It Could Go Next.

Quick Read Netflix trades at $72.56 with a BUY rating and $81.87 price target, implying 13% upside despite a 23% year-to-date decline. Disney trades at 14x forward earnings with half Netflix’s revenue growth, making Netflix’s 19x multiple look reasonable by comparison. Netflix’s $4.7B record buyback quarter and $27B remaining capacity anchor the bull case alongside

SpaceX Faces Major Challenges Building Mobile Network After Spectrum Purchase

SpaceX Faces Major Challenges Building Mobile Network After Spectrum Purchase ©@Kmeel_com from pixabay via Canva, @3DSculptor from Getty Images via Canva Key Stats for SpaceX Stock Price change for SpaceX stock in last 1 month: -4% $SPCX Stock Price as of Oct. 16: $146 52-Week High: $226 $SPCX Stock Price Target: $223 What Happened? SpaceX

Netflix Stock Has Gained in the Fourth Quarter in 17 of the Last 24 Years

Netflix (NASDAQ:NFLX) has a good fourth-quarter record. Going back to 2002, the shares ended the final three months of the year up in 17 of 24 years. This count goes from the last closing price in September to the last close in December, adjusted for stock splits. And in a typical year, the rise was

Michael Burry Warns of a Stock Market ‘Supervolcano’

Photo by BeInCrypto Michael Burry, who bet against the 2008 housing bubble, says the next bear market may last a long time. The Michael Burry bear market warning rests on a century of inflation-adjusted S&P 500 data. On the surface, stocks look calm. The S&P 500 closed at a record on October 6. Yet Burry

Is AIM Award Recognition Altering The Investment Case For MP Evans Group Stock?

M.P. Evans Group recently received the Best Investor Communications award at the 2026 AIM Awards, after reporting interim revenue growth of 9%, a 25% rise in pre-tax profit and a higher dividend, supported by firm palm oil pricing. The award highlights how clear communication around commodity volatility, export regulation uncertainty and sustainability issues has become

3 Australian Growth Stocks With Earnings Growth Over 15%

Stubborn US inflation has kept interest rate risks in focus, which puts a premium on businesses that can grow through higher costs rather than just endure them. Australian fast growers where insiders own meaningful stakes offer exactly that angle, because management feels the impact of every swing alongside you. This article highlights three such stocks

Sandisk Is Dominating the S&P 500 in 2026. Can It Repeat in 2027?

Sandisk (NASDAQ: SNDK) has been the top-performing S&P 500 stock for most of 2026, until it was recently surpassed by the surging pharmaceutical company Moderna. Still, Sandisk is holding onto second place by a wide margin, and it has risen nearly 500% this year; not a bad one-year gain! However, what’s in the past is

South Korea’s NPS stock holdings lose $136 billion

The market value of the service’s holdings fell 182 trillion won ($136 billion) in three and a half months, with much of the investment concentrated in chipmakers. National Pension Service Chairman Kim Sung-joo speaks at a parliamentary audit held at the National Assembly in western Seoul on Oct. 14.YONHAP The National Pension Service’s (NPS) earlier

Super Group (SGHC) Stock Could Trade At A Discount On Its 252% Run

Super Group (SGHC) has delivered a very strong 3 year run, which puts fresh focus on whether the current share price still lines up with what its earnings can support. With the stock closing at US$11.09 most recently, the key issue is how much of the business’s profit power is already embedded in that figure.

Do Earnings Estimate Cuts Change The Bull Case For Chewy (CHWY)?

Recent reports highlight that Chewy holds an average brokerage recommendation between Strong Buy and Buy. In contrast, a lower Zacks Rank reflects more cautious earnings expectations based on negative estimate revisions. The contrast between upbeat brokerage ratings and weaker earnings estimate trends points to growing pressure on Chewy’s underlying profit outlook and business execution, rather

Kraken Robotics Stock in 3 Years: Boom, Bust, or Quietly Crushing It?

Kraken Robotics (OTC: KRKNF) is positioning itself as a leading provider of technologies supporting crewless underwater vehicles, subsea monitoring, and other maritime applications. The company is a leader in battery technologies for underwater drones and seabed mapping, and has credible offerings in other categories that could be crucial for maritime defense, offshore energy projects, and

Rusal (SEHK:486) Stock Looks Pricey As Earnings Struggle To Support It

United Company RUSAL International has seen its share price under pressure in recent years, which puts the focus squarely on whether the current Hong Kong listing price around HK$2.79 is aligned with what its earnings can support. For anyone looking at the aluminium producer today, the key issue is how that earnings profile stacks up

Is Micron’s Incredible Run About to End?

Micron (NASDAQ: MU) has been on an extraordinary run for the past year. The memory chipmaker has benefited from surging demand amid the AI revolution, combined with limited competition. Micron’s stock has skyrocketed nearly 220% in 2026, even after a recent pullback. The company, along with a handful of others, owns the vast majority of

0
Would love your thoughts, please comment.x
()
x