While Bitcoin’s dominance reigns supreme for now, a looming shift in market dynamics could threaten the ongoing bull run. This warning comes from respected Bloomberg analyst Mike McGlone, urging caution as we enter the second quarter.

McGlone’s Take: Normalization and Deflation on the Horizon?
McGlone anticipates a potential “normalization” and “deflationary” period for Bitcoin in the coming months. Despite a strong showing in the first half, he warns of a possible reversal in the second. His reasoning? Historically, commodities tend to experience price decreases, and high-risk assets like Bitcoin might face a minor pullback. This, combined with potential deflation, could dampen the market’s enthusiasm compared to the inflation-driven highs of 2022.

Buying the Dip Continues?
However, some analysts point to continued market resilience. Platforms like Bybit are seeing ongoing “buying the dip” behavior, evidenced by a rising Bitcoin buy/sell ratio. This suggests investors are still confident in Bitcoin’s long-term prospects.

Mt. Gox Payout: A Wild Card
Adding another layer of uncertainty is the upcoming Mt. Gox payout. The collapsed Japanese exchange will begin repaying creditors in July, potentially injecting $9 billion worth of Bitcoin back into the market. While some experts predict many creditors will hold instead of selling immediately, the potential impact on price remains unclear.

Market on High Alert
As the Mt. Gox payout nears, analysts and industry players are closely watching developments. The short-term effects on Bitcoin’s price and market dynamics are a matter of speculation, but one thing’s for sure: the cryptocurrency market is about to enter a potentially volatile period.
## Биткоин: Рост под угрозой?