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Bitcoin’s price has plunged nearly 4%, dropping below $101,000 due to significant selling pressure in the overall crypto market, particularly ahead of the FOMC meeting. Despite struggling to break the resistance at $106,000, former BitMEX CEO Arthur Hayes suggests that Bitcoin 
$106,529 could decline to as low as $70,000.
Hayes’ Predictions
Arthur Hayes forecasts that Bitcoin will fall to $70,000 before it begins to climb again. He believes that this will coincide with the U.S. Federal Reserve returning to money printing.
“A correction of BTC to 70k-75k will occur alongside a mini financial crisis, followed by a rise to $250k by year-end,” Hayes states.
Corrections in Altcoins
The decrease in Bitcoin’s market has also led to declines of 5-10% in altcoins like Ethereum 
$2,506, XRP, Solana 
$168, Cardano 
$0.743934, and Dogecoin 
$0.225864. Long-term investors’ sales of BTC further supported this downward trend.
Market Liquidations
In Asian markets, Bitcoin and other altcoins faced liquidations exceeding $548 million, predominantly from long positions.
Preparing for the FOMC Meeting
The first FOMC meeting since Donald Trump’s presidency is approaching, with the Federal Reserve’s interest rate decision expected to significantly impact crypto markets.
Impact of China’s DeepSeek AI
The rise of China’s DeepSeek AI platform has triggered declines of over 3% in Nasdaq futures, adding to the selling pressure on Bitcoin and the broader crypto market.
Altcoin Market Faces Deepening Corrections
Ethereum’s price has decreased to $3,166, down 5.72%. Solana and Dogecoin have also lost value by 10.27% and 8.25%, respectively. This situation has affected expectations for an altcoin season starting in Q1 2025.
Experts, including CryptoQuant CEO Ki Young Ju, assert that the Bitcoin bull trend has not ended, indicating room for growth. According to Ju, the entry of new retail investors will continue to support the bull trend.
The FOMC meeting and other macroeconomic indicators are crucial for the future of crypto markets. Investors are closely monitoring the effects of interest rate decisions and global economic data on the market.
