Citing NewsBTC, Arthur Hayes, co-founder of BitMEX, argues that Bitcoin’s October dip to $80,000 marked the bottom, not the start of a new bear market. He claims the structural forces that pushed BTC down are now reversing, with the US spot ETF basis trade having run its course. Hayes expects Bitcoin to rise to $200,000–$250,000 by year-end, citing improved dollar liquidity and unwinding of leveraged ETF trades. He also notes that macroeconomic conditions, including the end of Fed quantitative tightening and TGA rebuilding, are turning in Bitcoin’s favor.
Arthur Hayes Predicts Bitcoin Could Hit $250,000 as ETF Basis Trade Ends
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