McGlone has a point:

McGlone has a point:

"In McGlone’s view, the conditions that once made Bitcoin (BTC) compelling have changed fundamentally. What began as a scarce, disruptive asset has become part of a crowded and highly speculative ecosystem, increasingly correlated with equities and vulnerable to the same macro forces that drive traditional markets.


He draws parallels with past market peaks, pointing to excessive speculation, the approval of exchange-traded funds (ETFs) and historically low volatility as warning signs. Bitcoin, he argues, has gone from being a hedge against the system to being firmly inside it, and that changes everything."