Arthur Hayes "Bitcoin, $80,000 is the bottom… Liquidity expansion is the key to the next rally"

Arthur Hayes, co-founder of BitMEX, argued that the recent 35% decline in Bitcoin (BTC) likely formed the bottom of this cycle.

According to Cointelegraph on the 25th (local time), Hayes said, "Bitcoin will trade below $90,000, but additional buying will come in the low $80,000s," and predicted, "$80,000 will be supported in this cycle."

He added that if changes in Fed policy become visible, a 'rising tide' would form across virtual assets (cryptocurrencies). He noted that signals of liquidity expansion are appearing, such as the approaching end of the Fed's quantitative tightening (QT) and increasing U.S. bank lending, and emphasized, "The next rise will be determined by liquidity, not sentiment."

On-chain analysis also supports this outlook. According to CryptoQuant, Bitcoin recently posted the largest net realized loss since the collapse of FTX, but the market absorbed the loss pressure and rebounded in a short time. This means forced liquidations and panic-selling volumes were quickly cleared, and analysts say that if a stable macro environment is maintained, Bitcoin could defend the $80,000–$85,000 range.