Arthur Hayes predicts $80,000 for Bitcoin.

Recent sharp pullbacks in Bitcoin prices have caught the attention of many investors. Arthur Hayes, co-founder of BitMEX, emphasized that the primary reason for this situation is the decline in U.S. dollar liquidity. He stated that the price could test the $80,000 level in the short term but could reach between $200,000 and $250,000 by the end of the year.

Hayes expressed that there is no fundamental distortion in the Bitcoin market concerning the recent decline. According to him, the slowdown in arbitrage transactions related to ETF finalizations and the decrease in Bitcoin purchases by DAT companies are among the factors increasing pressure on the price. Noting that Bitcoin has lost approximately 25 percent of its value from its peak in October, Hayes stated that this shows the market is facing the reality of liquidity.

Additionally, Hayes indicated that institutional inflows into ETFs are not sustainable due to falling returns, with large funds showing interest in Bitcoin primarily through spread transactions instead of direct purchases. Alongside the weakening of Bitcoin demand, the decline in the stock premiums of DAT companies has also restricted purchasing power.

Hayes emphasized that if the contraction in dollar liquidity continues, the price of Bitcoin could fall to between $80,000 and $85,000, but if there is a correction in U.S. stock markets and the government returns to expansionary policies, liquidity would return, allowing Bitcoin to rise to the $200,000 to $250,000 range. Moreover, he pointed out that China's preparations for renewed expansion could increase global risk appetite and potentially trigger a strong crypto bull cycle in 2026.