BitMEX co-founder sees Bitcoin reaching $110k before plunging below $77k

As the Federal Reserve shifts to quantitative easing, BitMEX’s co-founder Arthur Hayes appears to be confident to bet on Bitcoin hitting $110,000 before dipping to $76,500.

Arthur Hayes, BitMEX‘s co-founder, is back with another prediction, this time saying Bitcoin (BTC) will hit $110,000 before dropping to $76,500, thanks to the Fed’s shift from tightening to easing for treasuries.

In a March 24 X post, Hayes explained that the Federal Reserve seems to be shifting from quantitative tightening to quantitative easing for treasuries, and that tariffs no longer matter because inflation is seen as “transitory.”

While it’s yet to be seen whether Hayes’ another prediction will play out or no, his statement aligns with growing market expectations that the Federal Reserve will end its QT program by May, as data from prediction markets Polymarket recently recorded a 100% probability that the Fed will cease QT by April 30.

Ending QT could be a big catalyst for risk assets like cryptocurrencies, with analysts predicting that the liquidity injected into the market could spark a new bull market.

Hayes has a history of changing his views on the crypto market. In September 2024, he reversed a previous forecast, acknowledging he had been wrong about Bitcoin’s short-term direction, stating in a commentary for news outlets that he reserves the “right to change my mind as the situation evolves.”

In a Feb. 25 X post, Hayes warned that Bitcoin’s price could fall as low as $70,000 if large hedge funds unwind their positions in spot Bitcoin exchange-traded funds. However, less than a month later, as market dynamics evolved, Hayes adjusted his analysis, declaring in a March 20 X post that Bitcoin’s price had likely reached its bottom at $77,000.