Gromen: Bitcoin Faces 65-70% Drawdown, Could Slide to $40,000

• Global macro strategist Luke Gromen warns Bitcoin could slide to $40,000 by 2026, with a potential 65-70% drawdown risk.
• Gromen notes Bitcoin's failure to make new highs relative to gold and a break below key technical levels as warning signs.
• Historically, similar technical breakdowns in Bitcoin led to median declines of 65-70%.
• Bitcoin recently sank below $86,000, marking a 30-32% drop from its October 2025 all-time high of $126,272.
• The recent pullback is attributed to whale profit-taking, Bank of Japan rate hike expectations, and weak global macro signals.

Why It Matters: Bitcoin could slide to $40,000, posing a significant risk for investors.