Former BitMEX CEO Arthur Hayes has issued a cautionary outlook for the crypto market, suggesting Bitcoin may dip below $100,000 in the near term following a disappointing U.S. Non-Farm Payrolls (NFP) report.
Bitcoin Under Pressure After NFP Miss
The July NFP report fell far short of expectations, triggering volatility across global markets. Hayes, while maintaining a long-term bullish stance on Bitcoin, warned that liquidity risks and macroeconomic headwinds could cause a deeper short-term correction.
“Macro liquidity is drying up,” Hayes stated, citing falling job numbers, increasing margin calls, and reduced risk appetite from investors.
Short-Term Bearish, Long-Term Bullish
Bitcoin, which rallied above $120,000 in July, has since pulled back to $113,000, and Hayes now believes it could test the $100,000 level. Meanwhile, Ethereum could fall below $3,000, despite Hayes’ past target of $10,000 ETH.
On August 2, Hayes sold:
- 2,373 ETH (~$8.32M)
- 7.76M ENA (~$4.62M)
- 38.86B PEPE (~$414.7K)
This move sparked debate, with some accusing him of “shilling and dumping”, though Hayes has a record of accurate cycle-top calls.
Schiff Criticizes Bitcoin
Adding fuel to the sentiment shift, Peter Schiff—a long-time Bitcoin skeptic—contrasted BTC’s price action with gold’s:
“Bad economic news sent gold up 2.2%, while Bitcoin dropped 3%. That’s not what a safe haven looks like.”
Market Snapshot
As of Aug. 2, 2025 (2:14 pm UTC):
- Bitcoin price: $113,461.17 (↓2.14%)
- Total market cap: $3.68 trillion
- 24-hour volume: $164.41 billion
- BTC dominance: 61.33%
Final Take
While Arthur Hayes’ prediction points to short-term downside risk, his broader outlook for crypto remains bullish. For investors, volatility may present both danger and opportunity—especially as macro pressures increase.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
