Bloomberg strategist: Bitcoin/gold may lead the decline, and there may be a trough in risk assets this year

Bloomberg senior commodity strategist Mike McGlone said in a post on the X platform that bitcoin/gold may lead the decline, and the near-unprecedented premium in the US stock market appears to have peaked and is about to return to normal levels. The equivalent ounces of gold and bitcoin may serve as a reference. Since 2008, the Standard & Poor's 500 Total Return Index has fallen for only two years. When this happens, it is often bad for cryptocurrencies. In 2025, there may be a trough for risk assets.