BitMEX co-founder Arthur Hayes predicts Bitcoin (BTC) price will fall below $40,000, $200 for Solana (SOL), and $5000 for Ethereum until the US Treasury’s quarterly refunding announcement.
In a January 22 post, billionaire Arthur Hayes, co-founder of BitMEX, expresses his pessimistic outlook on Bitcoin.
Arthur Hayes, co-founder of BitMEX, predicted the price of Bitcoin on Monday: “I believe we will surpass $40k.” In addition to a long-term bearish forecast of (ETH), the shift in sentiment is a reaction to the forthcoming quarterly refunding announcement by the United States Treasury.
Hayes remarked, “BTC appears absurdly heavy.” I believe we have surpassed $40k. I went long $35k strike puts on March 29. He further stated that the price of Bitcoin will continue to plummet until January 31, when the U.S. Treasury announced its quarterly refund.
Bearish remarks by U.S. Treasury Secretary Janet Yellen could further depreciate the price of Bitcoin, but the market is awaiting a paradigm shift in momentum.
In a prior post today, Arthur Hayes stated that SPX and BTC “ceased rising in tandem after the US BTC ETF.” He foreshadows liquidity issues in the markets as investors await significant macro announcements.
The price of Bitcoin continued to decline following Arthur Hayes’s post, reaching $40,027. At the moment, the price is $80.822. The respective 24-hour minimum and high prices are $40,364 and $41,855, respectively. Additionally, the trading volume over the past twenty-four hours has increased by 72%, indicating traders’ interest.
