BitMEX co-founder Arthur Hayes in a new Bitcoin price prediction on Monday said “I think we break $40k”. The change in sentiment comes following a long-term bearish prediction of $5000 for Ethereum (ETH) and $200 for Solana (SOL), as well as in response to the upcoming US Treasury quarterly refunding announcement.

Arthur Hayes’ Bitcoin Price Prediction

Billionaire Arthur Hayes, co-founder of crypto exchange BitMEX shares his bearish sentiment on Bitcoin in a post on January 22.

Hayes said “BTC looks mad heavy. I think we break $40k. I went long some 29Mar $35k strike puts.” He added that BTC price will continue to dump until the U.S. Treasury quarterly refunding announcement on January 31. US Secretary of the Treasury Janet Yellen can bring BTC price further down with her bearish remarks, but the community is awaiting a paradigm shift in momentum.

In a previous post today, Arthur Hayes said SPX and BTC both “stopped moving up together post US BTC ETF”. He signals liquidity troubles in the markets as traders await key macro announcements.

BTC price extended decline after Arthur Hayes’s post, falling to $40,027. The price is currently trading at $40,822. The 24-hour low and high are $40,364 and $41,855, respectively. Furthermore, the trading volume has increased by 72% in the last 24 hours, indicating interest among traders.

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The post Just-In: BitMEX’s Arthur Hayes Predicts Bitcoin (BTC) Price Dump Below $40,000 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am