The cryptocurrency market staged a “Black Monday” (7th), with Bitcoin plummeting to a low of $74,501 and Ethereum falling to $1,411, causing a wailing in the market.
However, as market panic continued to intensify, legendary trader and co-founder of BitMEX exchange Arthur Hayes posted on the social platform X last night that he was constantly buying Bitcoin during the market decline: I have been buying Bitcoin in batches all day and will continue to do so. Altcoins are also entering my buying range, but I think Bitcoin’s dominance will rise to 70%, so I will not make large investments in altcoins yet. Remember, printing money will be the only antidote.
Hayes predicts: Bitcoin will hit $250,000 by the end of the year
Arthur Hayes published a long article titled “The BBC” on the 1st of this month, in which he described the power struggle between Fed Chairman Powell and US Treasury Secretary Scott Bessent, and how fiscal policy dominated monetary policy, and finally said that Bitcoin is likely to rise to $250,000 by the end of this year: I still believe that Bitcoin can reach $250,000 by the end of the year, because now that the BBC has made Powell submit, the Fed will flood the market with dollars. This makes it possible for China to stop tightening domestic monetary conditions to defend the dollar-renminbi exchange rate, which increases the net amount of renminbi. Finally, Germany decided to build an army again, paid with printed euros, and every other European country had to build its own army with printed euros because they were afraid of the 1939 remix ignition.
Standard Chartered Bank: Bitcoin may become a tool to hedge tariff risks
In addition, Standard Chartered Bank is also optimistic about the future trend of Bitcoin. According to The Block, Geoffrey Kendrick, global head of digital asset research at Standard Chartered Bank, pointed out that the US isolationism represented by Trump’s tariffs is continuing to affect market sentiment, but Bitcoin may benefit from it and become a tool to hedge tariff risks: There is a lot of noise at the moment, and I think Bitcoin will become a tool to hedge tariff risks this time. US isolationism will lead to increased risks in holding fiat currency, which will ultimately benefit Bitcoin.
Kendrick’s analysis was released last Sunday (6). He acknowledged that the market will fall, but at the same time pointed out that Bitcoin has outperformed the stocks of several large US technology companies, and the short-term market sell-off may quickly subside. Bitcoin’s key support is at $76,500, which was formed the day after Trump won the election last year.
At present, it seems that Bitcoin’s price level does seem to have support, but the future market still depends largely on the impact of reciprocal tariffs. Investors are advised to be careful of fluctuations.
Bitcoin exchange rate Bitcoin halving Bitcoin plunge Bitcoin payment Bitcoin father