Arthur Hayes, co-founder of BitMEX, has indicated that Bitcoin’s ability to maintain a significant support level over the next two weeks could signal a recovery in its value. His comments were made in light of technical analysis and macroeconomic developments.
Hayes’ Latest Bitcoin Prediction
Hayes noted that preserving Bitcoin $85,302’s support at $76,500 may be crucial for the continuation of an upward trend. Market movements are believed to be reliant on this technical level.
Arthur Hayes: “The market isn’t like ‘D-Day’; if BTC can hold $76,500 between now and April 15, tax day, then we’ve made it out of the woods. Don’t break apart.”
The tariff regulations announced by the U.S. President have brought expectations of changes in economic policies. Evaluations have been made regarding how these developments may impact financial markets.
Arthur Hayes: “Trump’s tariff formula is further evidence of an effort to reverse global trade imbalances. The issue for Treasury bonds is that foreigners cannot buy bonds without cash. The Fed and the banking system must take steps to ensure a well-functioning Treasury market, which means an increase in money supply.”
Moreover, there is speculation that a weakening U.S. dollar could direct investors toward alternative assets. This situation is being considered a protective measure against inflationary pressures.
Arthur Hayes: “The U.S. dollar is weakening as foreigners sell U.S. tech stocks and bring money home. This is good for BTC and gold in the medium term.”
Current Market Situation
As of writing, Bitcoin is trading around the $84,136 mark. The current state of the market is closely monitored based on the preservation of the established technical level. Analysts suggest that the market needs evaluation through both technical and macroeconomic indicators. Investors continue to exercise caution against potential fluctuations.
Market risks and investment opportunities may shape up depending on whether the support level is maintained. Current analyses indicate that recovery could be possible if positive signals persist.
In light of the assessments provided, it is believed that if Bitcoin can maintain this critical technical level, a more positive trend may be observed in the market.