Commodity strategist reveals what’s really powering the crypto rally
Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence , shared some new thoughts on the future of crypto. Namely, in a July 21 post on X, McGlone stated that Bitcoin (BTC) and other cryptocurrencies may be fine, provided the stock market keeps going up. “Bitcoin, cryptos may be fine, as long as the stock market keeps going up.” – Mike McGlone The strategist’s post was a reply to Scott Melker, the host of The Wolf Of All Streets podcast, whose most recent episode, featuring McGlone as a guest, tackles topics including Bitcoin’s recent bullish trend and stablecoin legalization. Bitcoin, cryptos may be fine, as long as the stock market keeps going up https://t.co/2eYnlaGJ8D — Mike McGlone (@mikemcglone11) July 21, 2025 Why does the stock market matter for crypto? During the podcast discussion, McGlone expressed clearly the opinion that cryptocurrencies are intrinsically tied to the stock market, stating: “I can’t even have a view...