Arthur Hayes: It is "more likely" that Bitcoin will reach USD 110,000 before it returns to USD 76,500
It is more likely that Bitcoin will soar to a new all-time high of USD 110,000 thanks to the easing of monetary policy before it has another correction below USD 77,000.
Bitcoin could reach a new all-time high of USD 110,000 before any significant pullback, according to some market analysts who cite decreasing inflation and increasing global liquidity as key factors supporting a price rebound.
Bitcoin has been rising for two consecutive weeks, achieving a bullish weekly close just above USD 86,000 on March 23, according to chart data.
Combined with the decrease in inflation-related concerns, this could set the stage for a Bitcoin rally towards an all-time high of USD 110,000, according to Arthur Hayes, co-founder of BitMEX and Chief Investment Officer of Maelstrom.