Arthur Hayes anticipates that Bitcoin is nearing a phase where its price will experience continuous upward movement.
Arthur Hayes, co-founder of BitMEX, suggests that Bitcoin may be on the verge of a bullish breakout, following modest gains in the leading Expert predicts that Bitcoin is on the digital asset.
Bitcoin rose above $83k, leading the cryptocurrency market higher, but remained suscExpert predicts that Bitcoin is on the verge of enterinExpert predicts that Bitcoin is on the g a phase where its price will only rise.
eptible to downside pressure from broader risk assets on April 11.
According to Crypto.news data, BTC reached a peak of $83,200 across major crypto exchanges. However, these intraday gains occurred as stocks fluctuated due to ongoing tariff concerns.
Despite the current market conditions showing a disconnect amid a decline in the dollar index, crypto veteran Arthur Hayes remains optimistic about BTC. He expressed his perspective on X on April 11, highlighting the rising U.S. 10-year Treasury yield.
With the US10YR surpassing 4.5%, the former BitMEX CEO indicated that this could trigger a policy reaction from Washington. Hayes believes this response could come as early as the weekend, potentially putting Bitcoin into an “up only mode.”
Tariffs continue to be a significant concern for investors, as China and the U.S. remain locked in a trade war. The Chinese government recently imposed retaliatory tariffs of up to 125% on U.S. imports, following the White House’s 145% tariff increases.
Analyst Scott Melker noted on X that yields and China are the primary negative catalysts for risk assets.
This forecast from Hayes and Melker aligns with broader market sentiments, with many experts seeing the rising yields as a sign of “something being broken,” causing markets to overlook key U.S. inflation data. Earlier, BlackRock CEO Larry Fink stated that the U.S. is “very close” to a recession, if not already in one.
