Bitcoin Price Crash: Why Arthur Hayes Predicts BTC Could Drop To $70K Soon?

Quick Summary:

Bitcoin price recorded a drop of nearly 4% slipping under $101,000 level as the broader crypto market faced strong selling pressure ahead of the FOMC meeting.

As BTC struggles to break past the $106K resistance, former BitMEX CEO Arthur Hayes expects it to first crash to $70,000 before resuming the upward trend.

He believes that just as this happens, the US Federal Reserve will switch back to money printing once again.“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”.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaChina

Topics: Crypto market crash FOMC Meeting 24/7 Cryptocurrency News Bitcoin (BTC) Price Bitcoin News Arthur Hayes

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-27 @ 07:14:02 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 659 words

Reading Time: 4 minutes read

Sentences: 42 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 25490661

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