In a recent note to clients, Mike McGlone, senior macro strategist at Bloomberg Intelligence, warned that Bitcoin (BTC), gold, and stocks are all poised to decline. "After briefly topping $108,268 recently, Bitcoin has since dropped below $94,000, joining gold and others in a risk-off retreat," McGlone wrote. "Yet Bitcoin's high volatility has made for the most drama." McGlone also noted that the S&P 500 has managed to avoid a significant fourth-quarter swoon this year but added that such resilience is unlikely to continue into 2023. "The S&P 500 has avoided much of a fourth-quarter swoon this year, but such resilience probably won't last into 2023," he said. McGlone's warning comes amid a broader market sell-off that has seen both stocks and cryptocurrencies decline in recent weeks. The Federal Reserve's recent decision to raise interest rates is widely seen as a contributing factor to the sell-off.

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