Macro analyst Luke Gromen turns bearish on Bitcoin, expects possible drop to $40,000 by 2026

TechFlow, Dec 15 — According to Cointelegraph, macro analyst Luke Gromen has recently turned bearish on bitcoin, warning that the top cryptocurrency appears vulnerable amid changing macro conditions, rising quantum risk narratives, and deteriorating technicals—listing a drop to the $40,000 range by 2026 as one possible outcome.

On the RiskReversal podcast, Gromen said that while he still holds his thesis favoring hard assets over fiat currency, gold and certain equities are currently expressing this view better than bitcoin. He pointed out that bitcoin's failure to reach new highs relative to gold, the breach of key moving averages, and growing discussions around quantum risks indicate that its near-term risk-reward profile has worsened.