Bitcoin News Today: Bitcoin Targets $85K Support: Hayes' $250K Rally on the Line

Arthur Hayes, the former BitMEX CEO and prominent Bitcoin advocate, has predicted a volatile end-of-year trajectory for the cryptocurrency. In a recent statement, Hayes suggested Bitcoin could first dip to between $80,000 and $85,000 before rallying to as high as $200,000–$250,000 by December 2025. This forecast comes amid a broader market correction, with Bitcoin trading below $95,000 for the first time since May 2025, eroding much of its 2025 gains.

The bearish pressure has impacted key players in the crypto space. American Bitcoin (ABTC), a publicly traded miner backed by Eric and Donald Trump Jr., reported a third-quarter net income of $3.47 million and revenue of $64.2 million, a fivefold increase from the prior year. However, its shares tumbled over 13% in pre-market trading as Bitcoin prices slid. The company now holds 4,004 BTC, with a strategy to maximize Bitcoin per share through mining and treasury management. According to the earnings call transcript, the company's performance reflects broader market dynamics.

Technical indicators reinforce the near-term bearish outlook. Bitcoin has fallen below its 50-week exponential moving average (EMA) at $100,862, a critical support level that, if breached, could push prices toward the 100-week EMA at $85,508 according to technical analysis. The RSI and MACD on weekly charts signal strengthening bearish momentum, while daily price action shows rejection at key Fibonacci retracement levels. Analysts warn that further declines could test the $93,500–$94,253 range, a potential floor for stabilization.

Meanwhile, major Bitcoin treasury companies continue accumulating the asset despite the downturn. Strategy (formerly MicroStrategy), led by Michael Saylor, added 8,178 BTC in late November, bringing its total holdings to 649,870 BTC valued at $61.7 billion. Saylor dismissed rumors of selling, emphasizing the firm's commitment to Bitcoin despite a 56% drop in its stock price year-to-date. Other firms, including HIVE Digital Technologies and Fitell Corporation, are expanding mining operations and digital-asset treasuries, betting on long-term value and announcing fiscal year 2025 results.

The broader market remains in turmoil. Bitcoin ETFs saw $866 million in outflows on November 14, marking the second-worst day on record. Short-term holders face losses exceeding 12%, and liquidity is trending downward, raising concerns about a deeper correction. Yet some analysts remain cautiously optimistic, noting potential stabilizing zones near $94,000 and the possibility of a rebound to $106,453 if buyers defend key resistance.

As the year closes, Hayes' prediction of a $200,000–$250,000 rally hinges on a successful short-term bottom and renewed institutional demand. However, with the 50-week EMA increasingly vulnerable and macroeconomic uncertainty persisting, the path to such heights remains fraught with risks.