Arthur Hayes Predicts $70,000 Bitcoin Price Drop: What Does This Mean for Your Portfolio?

Crypto markets are known for their volatility, and recent weeks have seen a new wave of predictions from established players like Arthur Hayes. Co-founder of BitMEX, Hayes has warned about potential Bitcoin price drops, predicting a plunge to $70,000 as a result of hedge fund strategies. Hayes’ analysis suggests that these strategies, involving the BlackRock IBIT ETF and CME Bitcoin futures, could create downward pressure on Bitcoin prices.