Ethereum: $2K or Bust? McGlone Says It’s a Slide, Not a Ride

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Oh, Ethereum, you fickle darling. Bloomberg’s Mike McGlone is here to rain on your decentralized parade, predicting a downward spiral toward $2,000 as macro volatility decides to throw a tantrum. Because, of course, why have stability when you can have a rollercoaster?

McGlone’s Crystal Ball: Ethereum’s $2,000 Support is Now Its Safety Net

In a move that screams “I told you so” before anyone even asked, Bloomberg Intelligence’s senior commodity strategist Mike McGlone took to X (formerly known as Twitter, because why not add more chaos?) on Jan. 25 to share his hot take. Apparently, Ethereum is flirting with the lower end of its $2,000-$4,000 trading range, and McGlone is betting on a breakup-the kind where one party ends up crying into their blockchain.

His words, not mine:

“Ether appears to be heading toward the lower end of its $2,000-$4,000 range since 2023. I see greater risks of it staying below $2,000 than above $4,000, especially when stock market volatility decides to throw a party.”

He even included a chart-because nothing says “doom and gloom” like a line graph that looks like it’s auditioning for a horror movie. The chart highlights Ethereum’s repeated failures to break above $4,000 and its cozy relationship with the $2,000 support level. It’s like a bad romance, but with more math.

But wait, there’s more! McGlone didn’t just stop at one warning. In a December post, he basically called Ethereum the wallflower of the crypto party, saying: “Ether $2,000 or $4,000 Next? My bias is downward. 2026 will mark the sixth year of unch’d for the #2 crypto, despite everyone else having a blast. What happens when the U.S. stock market volatility decides to mean revert? Spoiler: It’s not pretty.”

FAQ ⏰

  • Why is McGlone so bearish on Ethereum?
    Because he’s seen the charts, and they’re not sending flowers. Rising stock market volatility and tightening correlations with risk assets are his go-to excuses.
  • What’s Ethereum’s trading range these days?
    Oh, just the same old $2,000 to $4,000 it’s been stuck in since 2023. Groundhog Day, anyone?
  • How does equity market stress affect Ethereum?
    Like a bad breakup-it triggers deleveraging, which means less speculative crypto flow. Thanks, equities.
  • Is there any hope for Ethereum long term?
    Sure! DeFi, smart contracts, and institutional blockchain experimentation are still its ride-or-die friends. But for now, it’s just a waiting game.

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2026-01-27 06:57