Bitcoin Falling to $70K? Here’s Why He's Still Bullish
Hi world, Bitcoin is poised for a sharp correction before surging to new highs in 2025, warns Arthur Hayes, citing tightening global liquidity and excessive market optimism. Arthur Hayes, former CEO of crypto exchange Bitmex, has issued a stark warning about the near-term trajectory of bitcoin, predicting a substantial correction before a massive rally later in 2025. In his latest essay, The Ugly, published earlier this week, Hayes expressed concerns that the crypto market is showing signs reminiscent of late 2021, just before a major downturn. “History doesn’t repeat itself, but it does rhyme,” he shared, elaborating: I don’t believe this bull cycle is over; however, on a forward-looking probabilistic basis, I think we are more likely to go down to $70,000 to $75,000 bitcoin and then rise to $250k by the end of the year than to continue girding higher with no material pullback. He attributes this potential decline to a tightening global liquidity environment, with central banks in th...