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In an Impact Theory podcast, Arthur Hayes discussed his theory on the upcoming Bitcoin bull market. He believes that BTC will stay sideways between $25,000 to $30,000 in 2023. And then, some financial disturbance will cause the interest rates to again go to zero in 2024.
The decreasing interest rate, crypto halving event, and the launch of spot Bitcoin ETFs would push Bitcoin to $70,000 by the end of 2024. Arthur Hayes said:
“That’s when the real fun starts. That’s when the real bull market starts.”
For 2026, he further elaborated:
“I think we are going to go somewhere between $750,000 to $1 million in Bitcoin by 2026. Just because again I believe this is going to be the largest bull market in financial assets we have ever seen in the human history.Not only will Bitcoin be at a ridiculous price, NASDAQ will be at a ridiculous price, S&P will be at a ridiculous price, pick your stock indices wherever you are, that will be at a ridiculous price.”
In 2023, the Fed interest rates are around their 22-year high. Of course, the market has a liquidity crunch due to the soaring interest rates. However, Hayes believes that the central banks will start decreasing the interest rates and restart the quantitative easing, igniting a bull market.
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Bitcoin dropped for a second consecutive session on Thursday, as price moved towards a key point of support. Today’s sell-off has sent the cryptocurrency below $29,000, with the coin now trading at a ten-day low. Ethereum fell to a one-week low in today’s session.

Bitcoin

Bitcoin (BTC) was once again in the red on Thursday, as traders continued to secure gains from last week’s bull run.

BTC/USD fell to an intraday low of $28,596.91 earlier in today’s session, which comes a day after hitting a high of $29,509.35.

This is the lowest point that bitcoin has hit since April 10, when price traded at a bottom of around $28,100.

if BTC Failed to Hold $28596 level we might see Next $27800-$26700

BTC 1D Chart

Ethereum

Ethereum (ETH) slipped to a one-week low in today’s session, as traders attempted to find a point of support.

Following a high of $2,005.44 on Wednesday, ETH/USD dropped to a bottom at $1,928.58 earlier in the day.

As a result of this drop, Ethereum fell to its weakest point since April 13, a day which saw ETH hover marginally above $1,900.

ETH 1D Chart

At the time of writing, ETH has rebounded, which appears to be due to its RSI bouncing from a floor at 52.00.

Ethereum is currently trading at $1,945.58, with the index at the 54.54 level, below an upcoming ceiling at 58.00.

If bulls were to take price strength to, or above, 58.00, there is a good chance that ETH will be back over the $2,000 level.

Terraform Labs co-founder Do Kwon has reportedly been charged with using a fake passport by authorities in Montenegro. 

Terraform Labs co-founder Do Kwon has been charged with using a fake passport by authorities in Montenegro, DL News reported, citing a court filing. 

Kwon, a South Korean national, was arrested while trying to leave Montenegro on a private jet last month. He is accused of trying to travel with a fake Costa Rican passport.

TerraUSD, the stablecoin created by Terraform Labs and often known by its ticker UST, collapsed in May last year, wiping out tens of billions of dollars for investors. The incident was the first of a series of crises to hit crypto markets over the course of 2022, including the bankruptcies of crypto lender Celsius and exchange giant FTX. 

If convicted of the document-related charges, Kwon faces a sentence of three months to five years in jail, DL News said. 

Ethereum network’s upcoming blockchain upgrade, the Shanghai hard fork could likely be a “sell-the-news” event or non-event. 

Ethereum price hit a new yearly high at $1,911, a week ahead of the hard fork. 

ETH price could retrace to support at $1,800 level, or plummet lower in the correction post the hard fork.

Ethereum hit a new yearly high as the price climbed above the $1,900 level for the first time in a year. ETH holders await the Shanghai hard fork scheduled for April 12 and a rally in the altcoin close to the event signals the likelihood of the upgrade being a “sell-the-news” event.

Ethereum price rallies ahead of Shanghai hard fork

Ethereum, the second-largest altcoin by market capitalization witnessed a spike in its price earlier today. ETH price climbed consistently since mid-December 2022, pushing the altcoin to a new yearly peak of $1,942, based on data from CoinMarketcap

ETH/USD 1D price chart

The ETH holder community is waiting for the launch of the Shanghai and Capella upgrades, together known as the Shapella, on April 12. Given that the altcoin rallied in the week leading up to the event, it is likely that crypto market participants view the Shanghai hard fork as a “sell-the-news” event.

Ethereum exchange balance declines while non-exchange climbs

Based on data from crypto intelligence tracker Sentiment, when the largest Ethereum addresses are split into exchange v. non-exchange, their balances are moving in opposite directions. The Ethereum balance in the ten largest exchange addresses has hit all-time low levels while for non-exchanges, it has continued its climb, as seen in the chart below. 

Ethereum exchange v. non-exchange balances

This signals accumulation by non-exchange players and a decline in selling pressure on Ethereum across crypto exchange platforms. A decline in selling pressure is a bullish sign for the altcoin's price.

What to expect from Ethereum price

Ethereum price has been in an ascending parallel channel since November 2022 with one significant break to the downside in March 2023. As seen in the price chart below, in the event of a decline, Ethereum price could nosedive to support at the $1,718 and $1,613 levels respectively.

ETH/USD 1D price chart 

If Ethereum price climbs consistently above the midpoint of the parallel channel, towards the 50% Fibonacci Retracement at $2,232, it could invalidate the bearish thesis. A decline below the lower trendline of the channel is expected in the event the Shanghai hard fork turns out to be a “sell-the-news” event.

On April 5, 2023, the independent blogger Andy Baio published a post on his Waxy Blog that explained every version of macOS from Mojave 10.14.0 to the current version hosts a copy of Satoshi Nakamoto’s seminal Bitcoin white paper. Mac users can type a simple command in the terminal, and all nine pages describing Nakamoto’s invention will appear in a PDF version in the built-in image viewer, Preview.

Blogger Discovers Bitcoin White Paper Hidden on Every macOS 10.15 or Later

While celebrating Satoshi Nakamoto’s alleged April 5th birthday, bitcoin supporters discovered that many Macintosh computers running the macOS operating system contain a complete version of the seminal Bitcoin white paper.

Screenshot of the Preview PDF file.

The initial discovery was revealed in a blog post called “The Bitcoin White Paper Is Hidden in Every Modern Copy of macOS” on Andy Baio’s Waxy Blog. The independent blogger found the hidden file while fixing his printer and confirmed his findings by consulting “over a dozen Mac-using friends to confirm.”

After typing the command in the terminal and using a Mac with macOS 10.15 or later, the Bitcoin PDF should open in Preview, according to Baio’s explanation. The blogger also provides instructions on how to access the file via the operating system’s library folder for those who are not familiar with the macOS terminal.

“Of all the documents in the world, why was the Bitcoin white paper chosen?” Baio asked in his blog post. Baio also discovered that the Bitcoin white paper had been previously found and written about in the Apple community discussions forum.

However, the news never made it to the bitcoin community over the last five years. After Baio published his blog post, the news went viral on social media. No one knows exactly why Apple has hidden the Bitcoin white paper in the operating system, but it has pleased the crypto community.