# McGlone Says Fed Rate-Hike Pricing Pressures Bitcoin, Gold and Copper By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/39599 Published: 2026-10-24T03:42:51.000Z Updated: 2026-10-24T03:42:51.000Z Section: Investing > He cited three rate hikes priced into markets and reiterated a $10,000 downside scenario for Bitcoin in an interview published Oct. 23. Bloomberg Intelligence senior commodity strategist Mike McGlone said market pricing for three Federal Reserve rate hikes was a headwind for Bitcoin, gold and copper in an interview published Oct. 23. McGlone pointed to three rate increases priced into markets and described that outlook as a headwind across the three assets. “Bitcoin can easily drop a zero,” McGlone said, reiterating his $10,000 downside scenario. He has previously tied that possibility to [a sustained decline of about 20% in the S&P 500](). ## Links in this article - [a sustained decline of about 20% in the S&P 500](https://www.tokenpost.com/news/insights/33775)