Bitcoin to $40K? Macro analyst Luke Gromen turns bearish on Bitcoin - Source: CoinTelegraph

Global macro analyst Luke Gromen has turned near-term bearish on Bitcoin, even saying that a drop to the $40,000 range is possible in 2026. He argues that the number-one crypto looks vulnerable as macro conditions and investor narratives shift.

In a recent appearance on the RiskReversal podcast, Gromen largely stuck by the core debasement trade thesis for fiat currencies and hard assets, but said that gold and certain equities were doing a better job than Bitcoin of expressing that view, adding, “Basically everything but gold and the dollar are likely to get waylaid.”