Arthur Hayes, co-founder of BitMEX, has stated that worsening economic conditions may impact the cryptocurrency market, particularly Bitcoin.
Negative Macroeconomic Conditions
According to Hayes, slowing credit growth, weak job creation, and fears of new tariffs may negatively impact risk assets, including Bitcoin and Ethereum. Hayes believes this situation could lead to Bitcoin's price dropping to $100,000.
Arthur Hayes' Asset Liquidation
In line with his predictions, Hayes recently sold a significant portion of his crypto portfolio. He liquidated assets totaling over $13 million, including:
* $8.32 million in Ethereum (ETH) * $4.62 million in Ethena (ENA) * $414,700 in Pepe (PEPE)
His wallet now holds approximately $28.3 million, with $22.95 million in USDC, indicating a move towards stability ahead of potential volatility.
Optimism from Some Analysts
However, not all analysts agree with Hayes' bearish outlook. For example, Bloomberg's Eric Balchunas noted that Bitcoin's volatility has significantly decreased since BlackRock filed for a BTC ETF, suggesting a more mature market. Additionally, technical analysis indicates Bitcoin is near its 50-day EMA, historically a bullish signal.
Hayes' $100K forecast highlights valid macroeconomic risks, yet there are also positive viewpoints based on historical data and current charts, suggesting further upside may be possible.
