Arthur Hayes, co -founder of Bitmex, expects a sharp decline in the encryption market, expecting that bitcoin might decrease to $ 100,000 and Ethereum to $ 3,000.
His warning follows a mixture of macroeconomic pressure and weak credit in global economies.
The encryption market was hit with a loss of $ 372 million after Hayes warning
In a post on August 2 on X (previously Twitter), Hayes attributed his prediction to the upcoming American tariff bill, expected in the third quarter. He also pointed to broader economic challenges as a contributing factor.
In addition, the co -founder of Bitmex indicated that there is no major economy that widens credit quickly to increase the nominal GDP. According to him, this can lead to a correction in the cryptocurrency market.
Hayes’s declining position appears to be in line with the broader market morale. The total market value of the cryptocurrency has decreased by more than 3 % in the past 24 hours, which is now $ 3.76 trillion.
According to Beincrypto data, Bitcoin has seen great fluctuations in the past 24 hours, immersing nearly $ 114,000 to the lowest level in several weeks at $ 112,113. However, it has regained a little bit to $ 113,494 from the time of the press.
Ethereum followed a similar trend, as it decreased from more than $ 3500 to $ 3,373, only to restore some land.
This acute stagnation in the market has sparked about $ 372 million of liquidation over the past 24 hours, affecting more than 115,000 merchants.
The long traders, who are betting on the recovery of the market, dominated the volume of liquidation, which represents about 322 million dollars of losses.
On the other hand, short traders, who expected a decrease in prices, did not witness only $ 65 million in liquidation.
Via Assets, ETHEREUM led the liquidation scanning, about $ 119 million, followed by Bitcoin at $ 62 million.
Despite the withdrawal, Eric Trump, US President Donald Trump, Bitcoin and Ethereum investors to benefit from low prices. I suggest now a suitable time to buy DIP.
It is worth noting that his previous advice to purchase Bitcoin during price corrections witnessed the increase of assets by 15 %, while ETHEREUM increased by 20 %.
Investors now hope that Trump’s current invitation will reflect the positive market results in the past.
Disintegration
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2025-08-03 10:30:00
