Glass-coated microwires exhibiting magnetic bistability have garnered significant attention as promising wireless sensing elements, primarily due to their rapid magnetization switching capabilities. These microwires consist of a metallic core with diameter d, encased in a glass coating, with a total diameter D. In this study, we investigated how the dimensions of both components and their ratio (d/D) influence the magnetization reversal behavior of Fe-based microwires. While previous studies have focused on either d or d/D individually, our research uniquely considered the combined effect of both parameters to provide a comprehensive understanding of their impact on magnetic properties. The metallic core diameter d varied from 10 to 19 µm and the d/D ratio was in the range of 0.48–0.68. To assess the magnetic properties of these microwires, including the shape of the hysteresis loop, coercivity, remanent magnetization, and the critical length of bistability, we employed vibrating sample magnetometry in conjunction with FORC-analysis. Additionally, to determine the critical length of bistability, magnetic measurements were conducted on microwires with various lengths, ranging from 1.5 cm down to 0.05 cm. Our findings reveal that coercivity is primarily dependent on the d/D parameter. These observations are effectively explained through an analysis that considers the competition between magnetostatic and magnetoelastic anisotropy energies. This comprehensive study paves the way for the tailored design of glass-coated microwires for diverse wireless sensing applications.