Bitcoin (BTC) Price: Hayes calls the current dip “very normal” with $ 70,000 bottom targets


TLDR

  • Bitcoin hit a four -month was at $ 76,606 in the middle of the recession’s fear and global market implement
  • Arthur Hayes predicts that BTC will knock down about $ 70,000, marking a 36% correction from all the time high
  • Short -term holders who bought near the top drives sales pressure with “moderate capitulation”
  • Data shows that short -term holders are “deep underwater” between $ 71,300 and $ 91 900
  • Bitcoin has returned 7.5% in 24 hours when the US markets stabilized

Bitcoin’s latest price measure has captured many investors’ attention as the leading Cryptocurrency continues its downward trend from its highest time. The price dip comes in the middle of broader market problems and shows patterns typical of the bull market corrections.

Bitcoin hit a four -month was $ 76,606 yesterday. This drop occurred when both Cryptocurrency and stock markets tumbled all over the world.

    BitcoinBTC price
Bitcoin
BTC price

The economic recession is growing. The S&P 500 has dropped almost 8% over the past month, which shows the broader market decline is not limited to crypto.

New data from Prediction Market Polymarket shows a 39% chance of an American recession in 2025. This is up from just 23% probability back in February this year.

Haye’s prediction

Crypto entrepreneur Arthur Hayes weighed the situation. The former Bitmex -vd believes that bitcoin will probably find a bottom about $ 70,000.

Hayes described this potential 36% correction from January all time of $ 108,786 as “very normal” in a bull market. He urged crypto investors to remain patience during this period.

According to Hayes, when Bitcoin hits $ 70,000, traditional markets would have to experience a sharp decline. This would include drops in the S&P 500 and Nasdaq, along with some large financial institutions.

Such events would probably cause central banks to start quantitative relief. Federal Reserve, European Central Bank and Bank of Japan would create what Hayes call an “optimal purchase opportunity.”

Glass node

Onchain Analytics company Glassnode has identified A key factor in the current sales pressure. Their information shows that buyers who bought close to $ 109,000 in January are now panic sales.

Glassnode described this as a “moderate capitulation event” with “intensive loss realization.” The information shows a clear pattern of short -term holders who leave their positions.

The average purchase price for short -term Bitcoin holders (those who hold for less than 155 days) is currently $ 91,362. With Bitcoin trading with approximately $ 81,930, these holders are facing an average unrealized loss of about 10.6%.

Glassnode analysis indicates that short-term holders are “deep underwater” between price points of $ 71,300 and $ 91,900. The company suggests that the probability of forming a temporary floor in this zone is “meaningful.”

Market research company 10X Research called the current situation a “textbook correction.” They noted that about 70% of all sales came from investors who bought over the past three months.

Despite the downward pressure, some indicators indicate a potential trend change. Bitcoin’s relative strength index is at its lowest level since August 2024, which can signal an upcoming recovery.

Further hope comes from the US Dollar Index. It recently experienced one of its largest weekly shows since 2013, which potentially established favorable conditions for risks such as Bitcoin.

At the time of writing, Bitcoin is traded at $ 80,008, which shows a small increase of 0.1% over the past 24 hours. Cryptocurrency has hoped back 7.5% over the past day when the US markets stabilized.





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