Arthur Hayes, chief investment officer of Maelstrom Fund, warned that increasing macroeconomic pressure could drag bitcoin back to the $100,000 level – he already expected to earn cryptocurrency profits.
Hayes linked the recent cryptocurrency withdrawal to new tariffs triggered by the disappointing non-agricultural wage report, which showed 73,000 new jobs added in the U.S. in July, a sign of economic vulnerability.
Hayes also pointed out that slow credit growth in major economies has hindered GDP growth, warning Bitcoin (Bitcoin).BTC) and ether (ethereth) could fall further into the $100,000 and $3,000 levels.
Hayes sells over $13 million in ETH, ENA and PEPE
his Comment Come in on Saturday reply From the X post by blockchain analytics platform Lookonchain, the chain highlights that Hayes recently unloaded $8.32 million worth of ETH, $4.62 million worth of Ethena (this) and $414,700 Pepe(Pepe) Memecoin.
Hayes’ wallet has recently sold off and now holds $28.3 million worth of tokens and parks $22.95 million in USDC (USDC) stablecoin, according to to Arkham Intelligence data.
Bitcoin at the edge of even correction
Hayes’ comments echoed wider concerns that macro headwinds could hinder the momentum of cryptocurrencies. Credit is tight, Updated tariffs And, softening the job market could put pressure on risky assets, testing investor convictions and potentially triggering corrections.
Bitcoin fell more than 7.7% $123,000 All-time Highest It was set on July 14, while Ethereum fell 12.5% Eclipsed $3,900 Barrier July 28, Coingecko data show.
Bitcoin’s price drop to $100,000 will mark a 18.7% correction.
Bitcoin says it’s different this time
However, many industry analysts believe that Bitcoin has passed the era of major double-bit withdrawals.
These include Bloomberg ETF analyst Eric Balchunas, who Famous Since Belek’s location Bitcoin ETF In the file filed in June 2023, Bitcoin experienced “much less volatility and no reduction in vomiting.”
Related: Ray Dalio sells final Bridgewater shares after predicting debt crash
Mitchell Askew, Mitchell Askew of Bitcoin Mining Corporation Block Software Solutions additional: “The days of a parabolic bull market and a devastating bear market are over.”
Magazine: Crypto Trader “fools himself” with price predictions: Peter Brandt
