Bitcoin faces key $100K resistance, says Bloomberg analyst

Bloomberg’s Mike McGlone warns Bitcoin faces strong resistance at $100,000 amid shifting Federal Reserve rate expectations and elevated S&P 500 correlation. While BTC peaked at $108,000 in December, its near-15% drawdown reflects economic headwinds. McGlone suggests staying above $100,000 could cement Bitcoin as a store of value like gold but notes rising competition from gold, which is outperforming equities. According to The Daily Hodl, he also cites ETFs, Bitcoin halving and political shifts as recent boosts to speculative demand.