Co-founder of BitMEX Arthur Hayes expressed his opinion on social media platform X that the price of Bitcoin could drop to $70,000.

According to his assessment, such a decline would represent a 36% decrease from the record high of $110,000, which corresponds to a standard correction in a bullish market.

Hayes also noted that further developments could be linked to a drop in American stock indices (S&P 500, Nasdaq) and the bankruptcy of traditional financial organizations. In response, the U.S. Federal Reserve, the People's Bank of China, the European Central Bank, and the Bank of Japan may shift to a more accommodative monetary policy to support the economy.

He advises traders to be patient: risk-takers might try to buy the asset at its lowest point, while more cautious investors should wait for changes in the policies of global regulators to avoid stresses related to long-term consolidation or potential losses.