BitMEX founder and former CEO Arthur Hayes believes that Bitcoin could fall to levels last seen in Q4 2024 and predicts a potential retest of the $70,000 to $75,000 range.
Arthur Hayes Predicts Bitcoin Will Test $70,000-$75,000
Hayes argues that despite the election of Donald Trump, global markets have realized that US politics has not changed as dramatically as expected. As a result, the initial optimism that fueled the crypto rally may fade, leading to a correction in prices.
However, Hayes pointed out two key factors that could revive the crypto market:
- Monetary stimulus: Any form of money printing by major economic powers like the Federal Reserve, the U.S. Treasury, China, or Japan could inject fresh liquidity into risk assets like crypto.
- Regulatory clarity: The enactment of concrete legislation supporting permissionless crypto innovation could serve as a bullish catalyst.
With Bitcoin currently trading above $98,000, Hayes’ forecast suggests that a correction could be imminent unless a major macroeconomic or regulatory shift occurs.
*This is not investment advice.
Continue Reading: BitMEX Founder Arthur Hayes Points to Critical Level Where Bitcoin Price Could Drop! Here Are the Details
