BitMEX's Arthur Hayes Warns Bitcoin Must Hold $76,500 Until April 15 To Avoid Volatility

Arthur Hayes, the former CEO of BitMEX, has once again captured attention with his latest Bitcoin prediction. In a recent post, Hayes warned about the potential instability in the Bitcoin market, emphasizing that maintaining a support level of $76,500 until April 15, the U.S. tax filing deadline, is crucial to avoid further market volatility. Hayes referenced the market's reaction to Liberation Day, highlighting the price drop experienced on April 2, which underscored the need for stability.

Hayes' prediction was based on historical data showing that the period leading up to tax day often causes significant price fluctuations in the cryptocurrency market. He posted on X, stating, “Mrkt no likey ‘Liberation Day’, if $BTC can hold $76.5k btw now and US tax day Apr 15, then we are out of the woods. Don’t get chopped up!” This sentiment was echoed by several investors who also believe that maintaining this support level is essential for short-term market stability.

In addition to his short-term prediction, Hayes has also linked the current market volatility to broader economic factors. He has previously argued that the U.S. Monetary Policy and the introduction of new tariffs by the U.S. President could significantly impact Bitcoin's trajectory. In his April 1 blog post titled ‘The BBC’, Hayes suggested that Federal Reserve Chair Jerome Powell might be compelled to resume quantitative easing (QE) due to the increasing government debt and reduced foreign interest in U.S. Treasuries. He believes that the Federal Reserve and U.S. banks will need to step in as buyers of last resort for Treasuries, which could improve liquidity in the market and benefit risky assets like Bitcoin.

Looking ahead, Hayes remains optimistic about Bitcoin's long-term growth. He predicts that Bitcoin could reach $250,000 by the end of 2025, driven by economic developments and increasing global liquidity. Hayes compares Bitcoin's potential reaction to QE with gold's performance during the 2008-2009 financial crisis, anticipating a delayed but dramatic price growth for the digital asset. Despite the current market volatility, Hayes' bullish outlook on Bitcoin's future remains unchanged.