Bearish Arthur Hayes says Bitcoin could retrace to $100K on macro headwinds

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Maelstrom Fund chief funding officer Arthur Hayes has warned that mounting macroeconomic pressures could drag Bitcoin again down to the $100,000 stage — and he is already taken crypto earnings in anticipation.

Hayes linked the latest crypto pullback to renewed tariff fears sparked by the disappointing Non-Farm Payrolls report, which confirmed simply 73,000 new jobs added within the US in July — an indication of financial fragility.

Hayes additionally pointed to sluggish credit score development in main economies stunting nominal gross home product development in warning that Bitcoin (BTC) and Ether (ETH) could fall additional towards the $100,000 and $3,000 ranges.

Hayes bought over $13M of ETH, ENA and PEPE

His feedback on Saturday got here in response to an X put up from blockchain analytics platform Lookonchain, which highlighted that Hayes just lately offloaded $8.32 million value of ETH, $4.62 million of Ethena (ENA) and $414,700 of the Pepe (PEPE) memecoin.

Source: Arthur Hayes

The Hayes’ pockets that carried out the latest selloffs now holds $28.3 million in tokens, with $22.95 million parked within the USDC (USDC) stablecoin, in accordance to Arkham Intelligence information.

Bitcoin on the verge of a double digit correction

Hayes’ feedback echo wider fears that macro headwinds could stall crypto’s momentum. Tight credit score, renewed tariffs and a softening job market could strain risk-on belongings, testing investor conviction and probably triggering a correction.

Bitcoin has fallen over 7.7% from the $123,000 all-time excessive it set on July 14, whereas Ether is down 12.5% since eclipsing the $3,900 barrier on July 28, CoinGecko information reveals.

A Bitcoin worth drop to $100,000 would mark an 18.7% correction.

Bitcoiners say it’s totally different this time

However, many trade analysts suppose Bitcoin is previous the times of main double-digit pullbacks.

Among them is Bloomberg ETF analyst Eric Balchunas, who famous that since BlackRock’s spot Bitcoin ETF submitting in June 2023, Bitcoin has skilled “much less volatility and no vomit-inducing drawdowns.”

Related: Ray Dalio sells ultimate Bridgewater stake after predicting debt collapse

Mitchell Askew, head analyst of Bitcoin mining agency Blockware Solutions added: “The days of parabolic bull markets and devastating bear markets are over.”

Source: Eli Nagar

Magazine: Crypto merchants ‘fool themselves’ with worth predictions: Peter Brandt

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