Bitcoin News Today: Institutions and Whales Accumulate Bitcoin as Hayes Stands by $250K Target

Arthur Hayes, co-founder of BitMEX, has reaffirmed his bullish stance on Bitcoin, asserting that the cryptocurrency remains on track to reach $250,000 despite a recent 30% price correction from its October peak of $126,000. The selloff, which has seen Bitcoin trade near $87,000, is attributed to a confluence of factors: ETF outflows, declining stablecoin liquidity, aggressive leverage unwinds, and shifting macroeconomic expectations. November alone witnessed $3.5 billion in redemptions from Bitcoin ETFs, with products like iShares Bitcoin Trust (IBIT) and Grayscale's GBTC experiencing multi-day outflows. Analysts estimate the market now requires $1 billion weekly in fresh inflows to push Bitcoin higher, a threshold far from current levels.

The decline in institutional confidence has exacerbated the downturn. Large asset managers have paused accumulation since October's peak, removing a stabilizing force for prices. This exodus followed a $19 billion leveraged liquidation event on October 10, which shattered Bitcoin's parabolic rise and created a new resistance cluster between $98,000 and $102,000. Meanwhile, on-chain data reveals diverging behavior among Bitcoin holders. Mid-tier "whales" (wallets holding 100–1,000 BTC) have increased their holdings by 0.47% since mid-November, signaling opportunistic accumulation.

Institutional interest in Bitcoin remains evident, with Hyperscale Data, an AI data center company, expanding its Bitcoin treasury to $70.5 million. The firm holds 382.9384 BTC and plans to allocate $37.25 million in cash for further purchases, targeting a $100 million treasury.

Separately, Texas allocated $5 million of its $10 million Bitcoin budget to purchase the asset via BlackRock's IBIT, averaging $87,000 per coin. These moves underscore growing institutional adoption despite short-term volatility.

Regulatory shifts are also shaping the landscape. The UAE's Federal Decree Law No. 6, effective September 16, 2025, extends regulatory oversight to DeFi platforms, middleware, and infrastructure providers, ending the "just code" defense for unlicensed activities. While self-custody remains permissible, providers enabling payments or transfers now face licensing requirements. This aligns with global efforts to integrate crypto into traditional financial frameworks, potentially stabilizing long-term adoption.

Macro factors, however, remain pivotal. The Federal Reserve's dovish pivot has injected uncertainty, with rate-cut expectations surging to 80% for the December meeting. Comments from Fed officials, including John Williams and Mary Daly, have fueled speculation that easing monetary policy could boost risk assets. Arthur Hayes argues that Bitcoin's drop is largely liquidity-driven, tied to the Fed's quantitative tightening program, which ended on December 1. He notes that historical liquidity indicators, such as the Bitcoin-to-gold ratio and global liquidity index, suggest oversold conditions, historically preceding rebounds.

Recent market dynamics hint at a potential stabilization. Bitcoin rebounded to $90,000 on November 27, supported by a $70 billion liquidity infusion as U.S. government operations resumed after a six-week shutdown. Institutional flows also shifted, with Ethereum ETFs attracting $61 million in inflows, signaling a rotation toward the second-largest crypto asset. Analysts caution, however, that macroeconomic risks-such as inflation surprises or holiday-season liquidity crunches-could disrupt the recovery.

Hayes' $250K target hinges on resolving these short-term pressures. While the current environment remains fragile, historical patterns of Bitcoin's resilience, coupled with institutional and regulatory tailwinds, suggest the asset's long-term fundamentals remain intact. As the Fed's policy trajectory clarifies and liquidity normalizes, the stage may be set for a renewed bull run.