Arthur Hayes: BTC price will fall below $40,000
Arthur Hayes: BTC price will fall below $40,000
Arthur Hayes, co-founder and former director of cryptocurrency exchange BitMEX, believes that the price of Bitcoin could fall below $40,000 in the short term.
In a post on X (Twitter) today, Arthur Hayes wrote, "I think we will break $40,000".
Loading...
To back up his bearish prediction, he added, "On March 29th, I opened a $35k long position in strike puts".
The BitMEX co-founder believes that the price of BTC will decline until January 31st, when the US Treasury's quarterly refund announcement will be released.
Earlier, Arthur Hayes said that SPX and BTC stopped rising together after the launch of the BTC ETF in the US, indicating liquidity problems in the cryptocurrency market. This is also due to traders being inactive while waiting for major macroeconomic news.
Loading...
Despite Arthur Hayes' pessimistic outlook, analyst Ali Martinez presented data on his X (Twitter) page indicating that spot Bitcoin ETFs in the United States currently hold a total of 638,900 BTCs worth about $27 billion.
Loading...
According to many experts, these figures confirm a good start for the new asset class and optimism for more BTC investments in the long term.
At the time of writing, BTC, the largest cryptocurrency by capitalization, is trading at $40,808, down 2.52% in the last 24 hours.
Read also: Coinbase lawyer criticizes the statement of the US General Accounting Office on cryptocurrencies
