BitMEX co-founder Arthur Hayes remains unfazed by Bitcoin's (CRYPTO: BTC) recent correction, viewing it as part of a natural cycle in a bull market. He believes macroeconomic forces will determine the next major move.
What Happened: In a post on X on Tueday, Hayes urges investors to stay patient, expecting Bitcoin to find support around $70,000--a standard 36% retracement from its $110,000 all-time high.
He predicts a major stock market crash and the failure of a key financial institution before central banks step in with liquidity easing.
For traders, he suggests the safest move is waiting for central bank action to avoid prolonged drawdowns, though aggressive buyers may front-run the pivot.
In a separate post, Hayes reiterated that Bitcoin operates as a true free market, trading 24/7 without bailouts--liquidations happen naturally.
Stocks, by contrast, trade only on weekdays, are restricted to certain participants, and often receive government intervention when politically convenient.
In a fiat liquidity crisis, Hayes asserts, Bitcoin moves first--both down and up--before equities follow.
Also Read: Bitcoin’s Heading To $73,000 Without A Fresh Narrative: 10x Research
What's Next: Hayes further acknowledged Bitcoin's rough start to the week, projecting a move to $78,000.
If Bitcoin struggles, he sees $75,000 as the next key level. He warns of potential volatility due to significant open interest in options between $70,000-$75,000.
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