Arthur Hayes Says Buy Bitcoin on Pullbacks, Long-Term Uptrend Remains Intact

BitMEX co-founder Arthur Hayes is urging investors to buy Bitcoin on weakness, arguing that the recent decline is a temporary correction.

Crypto Briefing reported on May 13 that Hayes said a drop toward $80,000 could present a buying opportunity.

He described the recent market pullback as a macro-driven "shakeout" and said the long-term uptrend remains intact.

Hayes also said stronger-than-expected U.S. consumer price index and producer price index data are pressuring Bitcoin.

At the same time, he said a sharp rise in Treasury yields could become a burden for the Trump administration and ultimately push it to accelerate a trade deal with China.

Hayes also left open the possibility that Bitcoin could fall to $70,000 in the near term.

Even so, he argued that Bitcoin could climb to $250,000 over the longer term if the Federal Reserve resumes quantitative easing.

The market is focused on how U.S. monetary policy and broader macroeconomic trends will affect Bitcoin. Interest-rate policy and the prospect of additional liquidity are seen as key variables.