BitMEX co-founder Arthur Hayes predicted that Bitcoin could potentially pull back toward the $70,000 to $75,000 range.
In a recent post on X, BitMEX co-founder Arthur Hayes said that Bitcoin’s (BTC) price stands poised for a massive correction to the $70,000 to $75,000 range. Furthermore, he suggested that this dip could trigger a “mini financial crisis” and result in a renewed wave of money printing. This development, according to Hayes, could ultimately propel Bitcoin’s price to $250,000 by the end of 2025.
Bitcoin’s last visit to the $75,000 level occurred on Nov. 8, 2020, just days after Donald Trump’s U.S. presidential victory. As of the time of publication, Bitcoin is trading at $102,876.
Hayes’ prediction came amid a broader slump in the crypto market. Following the release of DeepSeek R1 on Jan. 20, Bitcoin price experienced a significant decline, falling below $100,000 and reaching approximately $97,800 during Asian training hours. This has sparked a range of speculations from analysts about how much further Bitcoin price may fall.
Michael van de Poppe, founder of MN Capital, downplayed concerns over the current market volatility, describing the drop as a “short-term shock.” Van de Poppe cautioned against reacting hastily to short-term market fluctuations and pointed out that Bitcoin has reached what he termed an “exciting entry zone.” However, he acknowledged that if Bitcoin fails to maintain this support, a drop to the range of lows is likely.