Former BitMEX CEO Arthur Hayes has predicted that Bitcoin may soon reach $110,000 due to the expected transition of the Federal Reserve to quantitative easing.
Arthur Hayes' Prediction
Arthur Hayes, well-known in the crypto industry, has expressed his belief that the Federal Reserve will soon shift its policy from quantitative tightening to easing, potentially propelling Bitcoin to new heights. He also dismissed the potential impact of new US trade tariffs as short-lived.
BTC Market Activity
Bitcoin recorded a 3.17% daily gain, trading at $86,758. Trading volumes surged by 74%, reaching $16.69 billion, highlighting strong buying interest. Bitcoin futures open interest rose by 7.79%, exceeding $56 billion, while short liquidations surpassed $50 million over the past 24 hours. The market now focuses on upcoming economic data, including the US Core Personal Consumption Expenditures (PCE) index for February.
Corporate Investments in Bitcoin
Corporate buyers have increased their positions. Japanese firm Metaplanet acquired an additional 150 BTC, raising its total holdings to 3,350 BTC, investing $12.6 million. The company also appointed Eric Trump to its board to expand its Bitcoin strategy. These moves indicate continued confidence from firms with large Bitcoin exposure.
Arthur Hayes' positive forecast aligns with increased market activity and corporate investments in Bitcoin, indicating further positive market movements in the cryptocurrency sector.
