Bloomberg Intelligence Senior Commodity Strategist Mike McGlone stated that if Bitcoin fails to regain and sustain above $75k, the price could fall back to around $10k, which he considers a long-term equilibrium level; he pointed out that $75k is a key technical and psychological threshold. If this level is effectively broken, the bearish outlook would be invalidated, otherwise the price may continue its downward trend. McGlone further mentioned that Bitcoin had long fluctuated around $10k before 2020, which is also an important trading concentration zone since the launch of futures in 2017. Additionally, structural factors such as the expansion of crypto market supply and the development of stablecoins contribute to this dynamic. (CoinDesk)