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crypto.news 2025-01-29 09:09:42

Bitcoin poised for massive correction to $70K-$75K before surging to $250K by year end, BitMEX co-founder

Bitcoin poised for massive correction to $70K-$75K before surging to $250K by year end, BitMEX co-founder

BitMEX co-founder Arthur Hayes predicted that Bitcoin could potentially pull back toward the $70,000 to $75,000 range. In a recent post on X , BitMEX co-founder Arthur Hayes said that Bitcoin ( BTC ) price stands poised for a massive correction to the $70,000 to $75,000 range. Furthermore, he suggested that this dip could trigger a “mini financial crisis” and result in a renewed wave of money printing. This development, according to Hayes, could ultimately propel Bitcoin’s price to $250,000 by the end of 2025. Reversing the order of my tryptic essay series. The Ugly will be published tomorrow morning. I am calling for a $70k to $75k correction in $BTC , a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year. pic.twitter.com/wohvbKkXOf — Arthur Hayes (@CryptoHayes) January 27, 2025 Bitcoin’s last visit to the $75,000 level occurred on Nov. 8, 2020, just days after Donald Trump’s U.S. presidential victory. As of the time of publication, Bitcoin is trading at $102,876. You might also like: DeepSeek eclipses Bitcoin and crypto’s Trump effect, watch these 5 altcoins for gains Hayes’ prediction came amid a broader slump in the crypto market. Following the release of DeepSeek R1 on Jan. 20, Bitcoin price experienced a significant decline, falling below $100,000 and reaching approximately $97,800 during Asian training hours . This has sparked a range of speculations from analysts about how much further Bitcoin price may fall. Michael van de Poppe, founder of MN Capital, downplayed concerns over the current market volatility , describing the drop as a “short-term shock.” Van de Poppe cautioned against reacting hastily to short-term market fluctuations and pointed out that Bitcoin has reached what he termed an “exciting entry zone.” However, he acknowledged that if Bitcoin fails to maintain this support, a drop to the range lows is likely. I don't think there's a reason to panic. Short-term shock and panic reaction on the markets causing AI and #Crypto to drop. #Bitcoin reached an exciting entry zone, marked this earlier. If this doesn't hold, we'll see range lows. pic.twitter.com/mffq12w5xa — Michaël van de Poppe (@CryptoMichNL) January 27, 2025 Read more: Bitcoin ETFs cling to $18.44m inflows as BTC awaits FOMC decision near $102k

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