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COINTURK NEWS > Cryptocurrency News > Experts Predict Bitcoin’s Price Decline and Its Impact on Altcoins
Cryptocurrency News

Experts Predict Bitcoin’s Price Decline and Its Impact on Altcoins

In Brief

  • Bitcoin's value has fallen significantly ahead of the FOMC meeting.

  • Arthur Hayes predicts a potential dip to $70,000 before recovery.

  • Altcoins are experiencing corrections, impacting market expectations.

İlayda Peker
İlayda Peker 1 year ago
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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 $78,084 could decline to as low as $70,000.

Contents
Hayes’ PredictionsCorrections in AltcoinsMarket LiquidationsPreparing for the FOMC MeetingImpact of China’s DeepSeek AIAltcoin Market Faces Deepening Corrections

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 $2,335, XRP, Solana $86, Cardano $0.253725, and Dogecoin $0.099087. 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.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 27 January, 2025 - 11:05 am 27 January, 2025 - 11:05 am
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