Bitcoin and gold before the correction? Bloomberg analyst expects a blow-off top

Bloomberg analyst Mike McGlone expects both Bitcoin and gold to face a corrective blow-off top, warning of strong headwinds and little independent momentum for the two assets. The call comes as Bitcoin trades near record highs alongside gold, with McGlone suggesting the pair may have run ahead of fundamentals. He points to a lack of self-sustaining price drivers, implying that external macro forces rather than organic demand are propping up both markets. The view matters because Bitcoin and gold are often treated as twin hedges, so a synchronized pullback would undercut that thesis. Traders will watch whether BTC holds key support levels and whether gold’s rally stalls, as confirmation of the correction scenario.