# McGlone Says a 20% S&P 500 Drop Could Push Bitcoin Toward $10,000 By Token Post Canonical URL: https://www.tokenpost.com/news/insights/33775 Published: 2026-10-17T05:44:47.000Z Updated: 2026-10-17T05:44:47.000Z Section: Insights & Views > McGlone said Bitcoin’s performance roughly matched the S&P 500 over five years, while its volatility was nearly three times as high. Bitcoin (BTC) could move toward $10,000 if the S&P 500 falls about 20% and the decline persists, Mike McGlone said. McGlone described the condition as “about a 20% drawdown in the SPX that persists for a while.” He said sustained Bitcoin strength independent of equities would challenge the scenario. Over the past five years, Bitcoin’s performance roughly matched the S&P 500, McGlone said, while its volatility was nearly three times as high. He also said Bitcoin helped lead risk assets higher and may now be leading them lower. The market condition adds a trigger to [McGlone’s earlier $10,000 downside view](). ## Links in this article - [McGlone’s earlier $10,000 downside view](https://www.tokenpost.com/news/investing/30201)