Bloomberg Intelligence Warns of Ether s Potential Slide to 2,000 Amid Macro Challenges

Bloomberg Intelligence has issued a bearish forecast for Ether, suggesting that the cryptocurrency is more likely to drop to 2,000 than rise to 4,000 due to ongoing underperformance and macroeconomic pressures. Senior commodity strategist Mike McGlone expressed this view on social media, highlighting that 2026 will mark six years of stagnation for Ether, despite significant gains in gold, equities, and Bitcoin.
McGlone pointed out the contrast between Ethereum s price movements and the increases seen in Bitcoin and traditional assets. He noted that prolonged periods of stagnation can affect investor sentiment and asset allocation decisions. Ether 2,000 or 4,000 Next? My bias is downward,he stated, emphasizing the need to consider duration in macro analysis.
He also raised concerns about how all risk-assets, including Ethereum, might react if U.S. stock market volatility returns to historical levels. McGlone has previously cautioned about Ethereum s downside risks during tightening liquidity conditions and its persistent weakness compared to Bitcoin.
Despite this bearish outlook, some analysts remain optimistic about Ethereum s potential. Geoffrey Kendrick from Standard Chartered mentioned that scaling upgrades and increased institutional tokenization activity could help regain momentum. Gautam Chhugani from Bernstein linked Ethereum s valuation potential to the growth of stablecoins and real-world asset issuance. Additionally, David Duong from Coinbase Institutional highlighted that sustained developer activity and improving fee dynamics could support better performance if overall crypto market conditions remain favorable.