{"id":37328,"date":"2024-09-06T10:41:38","date_gmt":"2024-09-06T10:41:38","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitmex-co-founder-arthur-hayes-believes-bitcoin-btc-will-tap-50k\/"},"modified":"2024-09-06T10:41:38","modified_gmt":"2024-09-06T10:41:38","slug":"bitmex-co-founder-arthur-hayes-believes-bitcoin-btc-will-tap-50k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitmex-co-founder-arthur-hayes-believes-bitcoin-btc-will-tap-50k\/","title":{"rendered":"BitMEX co-founder Arthur Hayes believes Bitcoin (BTC) will tap $50K"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Arthur Hayes predicts Bitcoin (BTC) could fall below $50K amid market turmoil.<\/li>\n<li>Bitcoin\u2019s price drop has led to $36.71M in liquidations.<\/li>\n<li>The Crypto Fear &amp; Greed Index shows \u201cextreme fear,\u201d reflecting growing market anxiety.<\/li>\n<\/ul>\n<p>In recent days, the cryptocurrency market has been awash with uncertainty, with Bitcoin\u2019s price taking a significant tumble.<\/p>\n<p>After <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-btc-drops-below-57k-again-amid-strong-selling-pressure\/\">slipping below $57,000 on September 5<\/a>, Bitcoin has fallen to $55,711.26, leading to a sharp decline in market sentiment. This downturn has thrust the Crypto Fear &amp; Greed Index back into the \u201cextreme fear\u201d zone, with a score of 22, a notable drop from the previous day\u2019s \u201cfear\u201d score of 29.<\/p>\n<p>Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, has weighed in on the current market conditions and in a post on X, predicted a further decline in Bitcoin\u2019s price, suggesting that it could fall below $50,000 over the weekend.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> is heavy, I\u2019m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am a degen.<\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1831866865846776035?ref_src=twsrc%5Etfw\">September 6, 2024<\/a><\/p>\n<\/blockquote>\n<p>Hayes\u2019s prediction comes amidst a broader market slump and growing concerns about the US economy.<\/p>\n<h2>Over 36 million Bitcoin long positions liquidated<\/h2>\n<p>The recent plunge has seen Bitcoin wipe out approximately $29.7 billion from its market capitalization. According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">CoinGlass data<\/a>, the price dip has also resulted in over $36.71 million worth of long positions being liquidated, accounting for about 40% of today\u2019s crypto liquidations.<\/p>\n<p>The drop in Bitcoin\u2019s value has had a ripple effect across the cryptocurrency market. Other major cryptocurrencies have also experienced declines, with Ethereum (ETH) falling by 2.23%, Solana (SOL) dropping by 2.82%, and Ripple (XRP) seeing a 2.19% slump.<\/p>\n<p>This broad-based downturn has led to over $94.26 million in liquidations over the past 24 hours, with Bitcoin and Ether long positions accounting for over half of these liquidations.<\/p>\n<p>The current crypto market volatility is attributed to a confluent of broader macroeconomic factors. Notably, the recent US jobs data fell short of expectations, raising concerns about a potential Federal Reserve interest rate cut and adding to the market\u2019s apprehensions.<\/p>\n<p>As Bitcoin navigates these turbulent waters, all eyes will be on whether Hayes\u2019s prediction comes to fruition and how the broader market sentiment evolves in response to ongoing economic signals.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitmex-co-founder-arthur-hayes-believes-bitcoin-btc-will-tap-50k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Arthur Hayes predicts Bitcoin (BTC) could fall below $50K amid market turmoil. Bitcoin\u2019s price drop has led to $36.71M in liquidations. The Crypto Fear &amp; Greed Index shows \u201cextreme fear,\u201d reflecting growing market anxiety. In recent days, the cryptocurrency market has [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":37329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37328"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37328"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37329"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}