BitMEX co-founder: Bitcoin to rebound as U.S. stock market hits bottom

BitMEX co-founder Arthur Hayes wrote in his blog that Bitcoin $BTC is likely to bottom out before traditional markets and lead the recovery as the U.S. stock market finds its floor.

He highlighted that BTC hit an all-time high of approximately $110,000 just before U.S. President Donald Trump’s inauguration but has since dropped around 30% to $78,000. Despite this correction, Hayes remains confident that BTC is still in a bullish cycle, with the worst-case support level at the previous cycle’s peak of $70,000.

Hayes also pointed to the declining U.S. Treasury General Account (TGA), which signals growing liquidity. While he warned that BTC could briefly dip to $70,000 if risk assets see a sharp selloff, he reiterated his strategy of steadily accumulating BTC during market downturns without leverage, anticipating a major financial shift that could propel its price past $1 million.
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