Arthur Hayes, the co-founder and former CEO of BitMEX, recently shared his thoughts on the current Bitcoin price action. He stated that the flagship crypto has hit a local low and predicted what its future trajectory will look like. Related Reading: Is MATIC Poised For Takeoff? Key Area Breaks Records, Fueling Bullish Outlook Hayes Says Bitcoin Has Bottomed In a recent blog post, Hayes mentioned that Bitcoin hit a local low when it dropped to around $58,600 earlier this week. As such, he doesn’t foresee the flagship crypto dropping below that price range again anytime soon. Instead, he predicts that Bitcoin will rally above $60,000 (which it already did) and “then range-bound price action between $60,000 and $70,000 until August.” Hayes also suggested that Bitcoin’s recent decline was due to several factors, including the Fed rate decision, the Bitcoin halving sell-the-news event, and the slowdown in the demand for US Spot Bitcoin ETFs. He also used the opportunity to touch on the recent Fed and Treasury policy announcements, which he believes will significantly impact crypto. Hayes claimed those anno ..
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