Bitcoin has seen a strong decrease in recent days, falling below $ 80,000 again very briefly in the last 24 hours. Although the price of the asset has been recovered since then and is now quoted above $ 80,000 at the time of writing, there is still persistent sales pressure below this price level again before the end of the week.
The latest comments from Arthur HayesBitmex co -founder, suggests that this setback is part of a typical bullish market correction, and Bitcoin could continue to decrease until It reaches a fund around $ 70,000.
Arthur Hayes Bitcoin Price Perspective: $ 70k lower than sight?
The Bitcoin accident since its recent historical maximum of $ 108,780 has been approximately 30%. Arthur Hayes recently intervened in the accident, describing it as a typical correction in an upward market. In a recent publication about X, Hayes He described his expectations For Bitcoin’s trajectory, affirm that Bitcoin will probably extend his short -term corrections. Particularly, Hayes pointed out that the BTC price is “likely to touch around $ 70k.”
Hayes advised that Merchants trying to buy the fall at the current price may experience more inconvenience before the market stabilizes. For investors who are not willing to assume more risks, he recommends waiting for central banks to begin to facilitate monetary policies in the cryptographic industry before buying in BTC. He pointed out that an accident in the S&P 500 and the Nasdaq-100 would be ideal for loading more BTC.
In addition, a combination of agitation of the stock market and economic stress that leads to Intervention of The Federal Reserve, the European Central Bank, the Popular Bank of China and the Bank of Japan would indicate an ideal entry point to accumulate Bitcoin.
The moment of such an event remains uncertain, but Hayes’s strategy suggests waiting for clear signs of central banks before making large -scale investments.
Short -term objectives: The BTC route to $ 70k or a recovery?
Even so, several critical prices levels must be tested before Bitcoin can reach this price. On March 9, Hayes He pointed out that Bitcoin He was on the way to testing $ 78,000 again, warning that breach of that level could lead to a movement towards $ 75,000. During that time, BTC The week began with A decrease of $ 85,000 to $ 81,000. He also pointed out the important open interest in options between $ 70,000 and $ 75,000, which could trigger a volatile reaction if BTC enters that range.
For now, BTC has recovered slightly, claiming the $ 80,000 mark, but the feeling with respect to the purchase pressure and sales pressure It is currently uncertain. At the time of writing this article, Bitcoin is quoted at $ 82,725, at 1.67% in the last 24 hours.
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