Solana

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Bitcoin

Arthur

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<p dir="ltr">BitMEX cofounder and former CEO Arthur Hayes has&nbsp;<a href="https://cryptohayes.substack.com/p/yellen-or-talkin" rel="noopener noreferrer nofollow">shared</a> a major Bitcoin (BTC) price forecast that puts an end to speculation surrounding when the coin will test its bottom.&nbsp;</p>
<h2 id="expected-bitcoin-price-floor">Expected Bitcoin price floor</h2>
<p dir="ltr">Sharing his insights in a new Substack post, Arthur Hayes drew inferences using the state of the global economy to note how susceptible the abated inflationary pressures are to returning in no time.</p>
<p dir="ltr">Drawing on this, he forecasts a 30% correction from the spot Bitcoin Exchange Traded Fund (ETF) high of $48,000. If this projection comes to pass, then he foresees Bitcoin dropping to the $30,000 and $35,000 price range.</p>
<p dir="ltr"><a href="https://u.today/bitcoin-btc-price-keeps-crashing-as-grayscale-deposits-588-million-to-coinbase" rel="noopener noreferrer nofollow">Bitcoin has been in a freefall</a> since the United States Securities and Exchange Commission (SEC) greenlighted the 11 spot BTC ETFs that now trade in the market. At the time of writing, Bitcoin has dropped by a milder 0.64% in the past 24 hours to $40,042.44. This is an impressive figure that shows recovery, seeing as the coin fell as low as $39,105.51 in the past 24 hours.</p>
<p dir="ltr">Known for his&nbsp;<a href="https://u.today/bitcoin-etf-impact-arthur-hayes-bold-prediction-stirs-up-market-buzz" rel="noopener noreferrer nofollow">big bold predictions</a>, Arthur Hayes believes there might be some forms of relief introduced by the Federal Reserve to support growth; nonetheless, he is convinced crypto is primed to play a key role as a hedge against inflation as mainstream banks are on the verge of collapsing.</p>
<h2 id="beyond-bitcoin-hayes-altcoin-backup">Beyond Bitcoin, Hayes’ altcoin backup</h2>
<p dir="ltr">With a clear conviction of where Bitcoin might fall to before rebounding on a worst-case basis, Arthur Hayes confirmed that he has currently sold off his position in Solana (SOL) and BONK at a slight loss.</p>
<p dir="ltr">Hayes is a big promoter of the Solana ecosystem, and the sell-off showcases that more of a downward spiral might still be underway for this asset that has lost 12.3% of its value in the past week amid an intense sell-off.</p>
<p>Hayes, however, noted that should Bitcoin fall below $35,000, he will begin to load up on Dogwifhat (WIF), attesting to the potential of the meme coin to&nbsp;<a href="https://u.today/dogwihat-wif-price-skyrockets-as-solana-meme-coin-achieves-major-exchange-listing" rel="noopener noreferrer nofollow">outperform</a> when the market finally enters the recovery phase.</p>

Arthur Hayes Predicts Crucial Bitcoin (BTC) Bottom to Watch

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