From Bearish to Bullish: Arthur Hayes Reverses Stance After Bitcoin Rally
Arthur Hayes, the former CEO of BitMEX, was pessimistic about Bitcoin, but his views are shifting in light of the current market upswing. Hayes described Bitcoin’s surge to fresh all-time highs as a significant turning point in an X post on July 11. He had recently issued a warning that the TGA replenishment, the U.S. Treasury’s attempt to replenish its cash balance at the Fed, would put pressure on risky assets by removing market liquidity and lowering short-term sentiment. But such worries seem to have been dispelled by the cryptocurrency market’s dramatic increase this week.
I was slightly bearish in my last essay due to TGA refill. What changed? $BTC busted through ATH on good volume,
Hayes
Hayes: Ethereum and Altcoins Poised for Explosive Growth
Hayes anticipates Ethereum (ETH) will dominate from here, in line with the asset’s consistent increase over the last few days, even though Bitcoin (BTC) led the breakout. The former CEO went on to say that the much-anticipated altcoin season is approaching since, historically, this kind of momentum frequently comes before capital rotation into cryptocurrencies.
Get ready for a monster alt szn,
Hayes
His perspective is also influenced by the improved macro sentiment. According to him, markets anticipate that President Trump will lower tariffs, which might promote international trade and improve market performance as a whole.
Hayes’ Altcoin Season Prediction Coming True
Hayes earlier stated in May that for the altcoin season to really begin, Bitcoin needs to surpass the $110,000 barrier. He also forecasted that the breakthrough will take place in early Q3, or around June. Now that that breakout has been verified, he thinks the cycle’s next stage has begun.
Hayes has consistently expressed optimism about Bitcoin‘s long-term prospects. By the end of the year, he anticipates that Bitcoin will be worth about $250,000. He also sees a potential route to $1 million by 2028, when Trump’s current term ends.
With momentum growing throughout the market, Hayes’ altseason prediction is already coming to pass. Over 98% of altcoins have now surpassed Bitcoin in the present surge, with some assets, including SEI, SUI, and HBAR, rising between 10% and 20% over the last day.
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