Arthur Hayes: "Bitcoin Expected to Test $78,000 Level"

Uk Jin

Summary

Arthur Hayes, founder of BitMEX, stated that Bitcoin may test the $78,000 level.
He expressed concerns that Bitcoin could further decline to $75,000.
He predicted that volatility would increase as open interest in the futures market is concentrated between $70,000-$75,000.

Arthur Hayes, founder of BitMEX, has suggested the possibility of further decline in Bitcoin (BTC).

On the 10th, Hayes stated through his X (Twitter) account, "Bitcoin seems likely to test the $78,000 level again," adding that "if it falls further from there, it could drop to $75,000."

He further explained, "A significant portion of open interest in the futures market is accumulated in the $70,000-$75,000 range. Volatility could be maximized in this price range."

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