Arthur Hayes: Bitcoin crash is a harbinger of a bull cycle

Crypto industry analysts note that bitcoin has fallen below $ 77,000 for the first time since November 2024, reaching a low of $ 76,822 at BTC $85,210.32 Bitcoin 3.18% Market capitalization $1.69 trillion VOL. 24 hours $1.66 billion . This decline is 30% from the historical high of $ 110,000.

BitMEX founder Arthur Hayes believes that the situation remains typical of a bull market. He predicts that BTC may drop to $ 70,000, which would correspond to a 36% correction, after which the market will begin to recover. However, according to him, the crypto industry will not recover on its own — it requires the collapse of traditional financial institutions and new incentives from central banks.

The collapse affected not only cryptocurrencies but also stock markets. The Nasdaq 100 lost 1,050 points (5.8%) during the day, and another 300 points during after-hours trading. The S&P 500 and Dow Jones also suffered losses, and Delta Air Lines shares fell 11% after revising its financial forecasts.

After the collapse, anti-cryptocurrency analyst Peter Schiff wrote that BTC’s 30% drop only confirms its instability as an asset. He predicted even worse performance if the market continues to correct.

The cryptocurrency market is also experiencing investment outflows. Over the past four weeks, bitcoin ETFs have lost $ 4.75 billion, which is increasing bearish sentiment.

Macroeconomic events, such as the publication of the US Consumer Price Index (CPI) and negotiations to end the Russian-Ukrainian war, are expected to affect further market dynamics. Arthur Hayes' main message to investors remains the same: just wait.