Jinse Finance reported that Bloomberg analyst Mike McGlone stated on social media that extreme stock market complacency may indicate that risk assets will decline further, with BTC potentially leading the drop. Currently, the BTC/gold price ratio is about 20 times, while Bloomberg's economic model shows its fair value is closer to 13 times. McGlone pointed out that the 120-day volatility of the S&P 500 Index is approaching its lowest year-end level since 2017, which is one of the main reasons for the BTC/gold ratio to revert to 13 times. The analyst believes this may be a normal mean reversion phenomenon, indicating that the BTC price could pull back to the $50,000 level.