Arthur Hayes On Bitcoin: 'I Think We Break $40K,' Traders See 'Halving In 4 Months' For Next Price Upswing
Portfolio Pulse from Khyathi Dalal
Arthur Hayes, BitMEX co-founder, predicts Bitcoin (BTC) could fall below $40,000, contrasting his previous bullish stance. He mentioned going long on $35k strike puts ahead of the US Treasury quarterly refunding announcement. Bitcoin recently dropped below $41,000, a 20% correction from its $49,000 high post-Spot Bitcoin ETF approvals. Despite short-term bearishness, some analysts and traders remain optimistic due to the upcoming Bitcoin halving in April 2024.
January 22, 2024 | 7:42 pm
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Arthur Hayes predicts a potential drop below $40,000 for Bitcoin, indicating short-term bearish sentiment. Bitcoin has already experienced a significant correction, and traders are cautious ahead of the US Treasury's quarterly refunding announcement.
Hayes' prediction of Bitcoin dropping below $40,000, along with his personal investment in puts, suggests a bearish outlook that could influence market sentiment. The recent price correction and upcoming halving event add to market uncertainty, potentially impacting Bitcoin's price negatively in the short term.
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