Arthur Hayes, co-founder of BitMEX, recently shared insights about Bitcoin's potential price range between $70,000 and $75,000 under certain macroeconomic conditions. This prediction comes after a sharp 12.6% market decline over three days, the largest since the 2022 FTX collapse.
Arthur Hayes' Analysis
Arthur Hayes, a well-recognized voice in the crypto market, shared a BitMEX chart depicting a scenario where Bitcoin's price might drop significantly. His analysis highlights factors like political decisions in the USA, the current market cooling phase, and debates about raising the debt ceiling. All these aspects could affect investor confidence and lead to further cryptocurrency price decreases.
Comparison with Previous Crashes
The current 12.6% decline over the last three days is the most significant since the FTX collapse in 2022. This trend contrasts with previous market fluctuations, which were caused by regulatory bans or exchange failures. This time, the uncertainty is linked to political and economic decisions in the United States.
Experts' Forecasts: What's Next for Bitcoin?
Crypto analysts are divided on Bitcoin's future direction. Some believe the market is undergoing a correction before the next surge, while others warn of potential further downside. Notable analyst Michael van de Poppe predicts that Bitcoin could reach $90,000 in the near future if macroeconomic conditions stabilize.
The likelihood of Bitcoin reaching $70,000 is growing amid macroeconomic uncertainty. Hayes emphasizes that Trump's administration actions and decreased market liquidity could exert significant pressure on Bitcoin's prices. Despite the uncertainty and potential short-term swings, the key drivers of further price movement will be macroeconomic stability and investor sentiment.
