BitMEX co-founder Arthur Hayes forecasts a significant correction in Bitcoin’s
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price to $70,000-$75,000, followed by a potential surge to $250,000 by year-end, amid growing market volatility and concerns of a “mini financial crisis.”
What Happened: Hayes, who shared his outlook on X on Monday, plans to detail his analysis in a forthcoming essay series titled “The Good, The Bad, The Ugly.” The prediction comes as Bitcoin trades near $98,917, down 3.76% in the last 24 hours, following a sharp decline from recent highs above $105,000.
The cryptocurrency market has seen substantial liquidations, with approximately $400 million wiped out in just four hours of trading on Sunday evening. Long positions accounted for $389 million of these liquidations, suggesting growing bearish sentiment among traders.
Arthur Hayes
Arthur Hayes
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Reversing the order of my tryptic essay series.
The Ugly will be published tomorrow morning. I am calling for a $70k to $75k correction in $BTC, a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year.
8:02 AM · Jan 27, 2025
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Arthur Hayes
Arthur Hayes
@CryptoHayes
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I will drop a new tryptic essay series “The Good, The Bad, The Ugly” over the next eight weeks. So much to discuss I had to split it up.
The Good – The impact of political memecoins
The Bad – US crypto is at risk of getting cucked
The Ugly – A Q1 market crash
7:00 AM · Jan 24, 2025
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See Also: JD Vance: ‘Prices Are Going To Come Down, But It’s Going To Take Time,’ As Trump’s Energy Policies Start To Take Effect
Why It Matters: Technical analysts remain divided on Bitcoin’s trajectory. Cryptocurrency analyst Ali Martinez points to the invalidation of a head-and-shoulders pattern, suggesting a potential upside target of $122,000. Meanwhile, cryptocurrency chartist Rekt Capital emphasizes the significance of Bitcoin’s recent weekly closes above major resistance levels, historically a precursor to new all-time highs.
Major cryptocurrencies including Ethereum ETH/USD and Dogecoin DOGE/USD have also experienced significant declines, falling 5.60% and 7.50% in the last 24 hours, respectively.
This market volatility coincides with wider economic factors, including President Donald Trump‘s new tariffs on imports and anticipation of the Federal Reserve’s upcoming meeting. The CME FedWatch tool indicates a 99.5% probability that interest rates will remain unchanged at Wednesday’s meeting.