Arthur Hayes Predicts Bitcoin Price Dump Below $40,000
Billionaire Arthur Hayes, co-founder of BitMEX, shares his bearish sentiment on Bitcoin. He believes that BTC will break the $40,000 mark and has taken a long position on put options with a strike price of $35,000. Hayes expects the price to continue its decline until the US Treasury quarterly refunding announcement on January 31. He also mentions that US Treasury Secretary Janet Yellen’s bearish remarks could further push down the BTC price. However, the community is hopeful for a shift in momentum.
Liquidity Troubles and Market Movement
In another post, Hayes points out that both the S&P 500 (SPX) and BTC stopped moving up together after the approval of the US BTC ETF. He suggests that this indicates liquidity troubles in the markets as traders await important macro announcements.
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Bitcoin Price Movement
After Arthur Hayes’s post, BTC experienced a decline and dropped to $40,027. It is currently trading at $40,822 with a 24-hour low and high of $40,364 and $41,855 respectively. The trading volume has also increased by 72% in the last 24 hours, indicating growing interest among traders.
Hot Take: BitMEX’s Arthur Hayes Predicts Bitcoin (BTC) Price Dump Below $40,000
BitMEX co-founder Arthur Hayes has expressed his bearish sentiment towards Bitcoin, predicting that its price will drop below $40,000. He has taken a long position on put options and expects the price to continue declining until the upcoming US Treasury quarterly refunding announcement. Hayes also highlights liquidity troubles in the markets as both BTC and the S&P 500 stopped moving up together. After his prediction, BTC experienced a decline and is currently trading around $40,822. The increased trading volume indicates growing interest among traders.
