By: Isha Das
Crypto expert and ex-CEO of BitMEX, Arthur Hayes, projects a potential 40% crash in Bitcoin price in March due to looming market volatility. Despite Bitcoin bulls exuding confidence with the expected approval of the United States' first spot Bitcoin exchange-traded funds (ETFs), Hayes warns of a turbulent week ahead for financial markets.
This anticipated turmoil, according to Hayes, could trigger a substantial Bitcoin dip, with a fall of 20% seen as 'healthy,' although up to a 40% crash might occur depending on liquidity conditions. A significant contributor to this predicted downturn is the potential depletion of the Federal Reserve's reverse repo program and the expiration of a key funding facility for distressed banks, which could potentially instigate a market crash and force the Fed to lower interest rates. As such, traders are expected to navigate with due caution as they weather the storm of these 'bearish' market conditions.
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