Arthur Hayes predicts $80,000 for Bitcoin.

Recently, the sharp pullback in Bitcoin prices has caught the attention of many investors. Arthur Hayes, the co-founder of BitMEX, emphasized that the primary reason for this situation is the decline in US dollar liquidity. He suggested that the price could test the 80,000 dollar level in the short term, but by the end of the year, it could reach a range of 200,000 to 250,000 dollars.

Hayes stated that there is no fundamental disruption in the Bitcoin market regarding the recent decline. According to him, the slowdown of arbitrage transactions related to the finalization of ETFs and the drop in Bitcoin purchases by DAT companies are among the factors putting pressure on the price. He pointed out that Bitcoin has lost approximately 25 percent of its value since its peak in October, indicating that the market is facing reality regarding liquidity.

Additionally, Hayes expressed that the institutional inflows into ETFs are not sustainable; because the returns have decreased and large funds are showing interest in Bitcoin only through spread transactions instead of direct entry. Alongside the weakening demand for Bitcoin, the drop in share premiums of DAT companies has also restricted purchasing power.

Hayes stated that if the contraction in dollar liquidity continues, the price of Bitcoin could decline to the 80,000 to 85,000 dollar range, but if a correction occurs in US stock markets and the government returns to expansionary policies, liquidity could return, and Bitcoin could rise to the 200,000 to 250,000 dollar range. Moreover, he noted that China’s preparations for further expansion could increase global risk appetite and potentially trigger a strong crypto bull cycle in 2026.