BitMEX Co-Founder Arthur Hayes Predicts Bitcoin May Drop To $78K After “Ugly Start To The Week”
BitMEX co-founder Arthur Hayes warned that crypto market leader Bitcoin (BTC) could drop to $78K after an “ugly start to the week.” “If it fails, $75k is next in the crosshairs,” he said in a March 10 X post. Hayes added that Bitcoin dropping to between $70K and $75K could lead to “violent” volatility due to a lot of options open interest in this range. Over $619 Million Liquidated As Bitcoin And Crypto Market Plunge The post by Hayes comes after Bitcoin’s price dropped from a high of $86,115.43 to a low of $80,052.49 in the last 24 hours. It has since recovered slightly to trade at $82,114.84 as of 1:08 a.m. EST, down 4% in the past 24 hours, according to CoinMarketCap data. BTC’s correction coincided with a broader crypto market retracement during the same period. All of the top 10 largest cryptos by market cap suffered 24-hour losses, with meme coin leader Dogecoin (DOGE) posting the biggest drop after a more than 8% knock. ...