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

2 weeks ago

Bitcoin and Ether could autumn backmost toward the $100,000 and $3,000 level amid concerns of much tariffs, a sluggish recognition marketplace and slowed occupation creation, Arthur Hayes argues.

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

Maelstrom Fund main concern serviceman Arthur Hayes has warned that mounting macroeconomic pressures could resistance Bitcoin backmost down to the $100,000 level — and he's already taken crypto profits successful anticipation.

Hayes linked the caller crypto pullback to renewed tariff fears sparked by the disappointing Non-Farm Payrolls report, which showed conscionable 73,000 caller jobs added successful the US successful July — a motion of economical fragility.

Hayes besides pointed to sluggish recognition maturation successful large economies stunting nominal gross home merchandise maturation successful informing that Bitcoin (BTC) and Ether (ETH) could autumn further toward the $100,000 and $3,000 levels.

Hayes sold implicit $13M of ETH, ENA and PEPE

His comments connected Saturday came successful response to an X station from blockchain analytics level Lookonchain, which highlighted that Hayes precocious offloaded $8.32 cardinal worthy of ETH, $4.62 cardinal of Ethena (ENA) and $414,700 of the Pepe (PEPE) memecoin.

The Hayes’ wallet that carried retired the caller selloffs present holds $28.3 cardinal worthy of tokens, with $22.95 cardinal parked successful the USDC (USDC) stablecoin, according to Arkham Intelligence data.

Bitcoin connected the verge of a treble digit correction

Hayes’ comments echo wider fears that macro headwinds could stall crypto’s momentum. Tight credit, renewed tariffs and a softening occupation marketplace whitethorn unit risk-on assets, investigating capitalist condemnation and perchance triggering a correction.

Bitcoin has fallen implicit 7.7% from the $123,000 all-time high it acceptable connected July 14, portion Ether is down 12.5% since eclipsing the $3,900 barrier connected July 28, CoinGecko data shows.

A Bitcoin terms driblet to $100,000 would people an 18.7% correction.

Bitcoiners accidental it’s antithetic this time

However, galore manufacture analysts deliberation Bitcoin is past the days of large double-digit pullbacks.

Among them is Bloomberg ETF expert Eric Balchunas, who noted that since BlackRock’s spot Bitcoin ETF filing successful June 2023, Bitcoin has experienced “much little volatility and nary vomit-inducing drawdowns.”

Mitchell Askew, caput expert of Bitcoin mining steadfast Blockware Solutions added: “The days of parabolic bull markets and devastating carnivore markets are over.”