Arthur Hayes and Bitwise CIO stay bullish as Bitcoin falls under $100K
Despite Bitcoin dropping below $100,000, Bitwise CIO Matt Hougan and Arthur Hayes remain bullish on its future price.Summary
Following Bitcoin's dip below $100,000, Bitwise Chief Investment Officer Matt Hougan suggested the downturn signals peak retail capitulation, noting extreme depression among crypto-native retail investors, but strong continued interest from institutions. He anticipates that once this retail selling exhausts, institutional demand could push Bitcoin to new all-time highs, potentially reaching $125,000 to $130,000 by year-end.
Meanwhile, former BitMEX CEO Arthur Hayes argued that structural liquidity, driven by increasing US government debt issuance, will force the Federal Reserve into "stealth QE" via its Standing Repo Facility. Hayes believes this injection of dollar liquidity will ultimately reignite the Bitcoin bull market.
This price action has led some analysts, like The Kobeissi Letter, to declare that Bitcoin has officially entered bear market territory after falling over 20% from its October high, with some traders warning of potential further losses toward $92,000.
(Source：Cointelegraph)