Can Bitcoin Price Retest 109K ATH as Bloomberg Warns of ‘Grim Fiscal Reckoning’?

Bitcoin price has moved into a local bear market after reaching an all-time high of $109,300 in January. It has dropped by 22% as investors remain concerned about Donald Trump’s tariffs. However, billionaire Michael Bloomberg is warning about a grim fiscal reckoning in the US, which could be a tailwind for BTC price.