Arthur Hayes, the visionary co-founder of the renowned cryptocurrency exchange BitMEX, has recently made headlines with his audacious BTC price prediction. Hayes asserts that Bitcoin has finally hit its rock bottom and is now poised for an extraordinary ascent to a staggering $1 million valuation. His predictions have stirred a whirlwind of discussion among investors, igniting passionate debates across the crypto community. In a notable discussion, Hayes emphasized the influence of global liquidity and government actions as pivotal in determining Bitcoin’s price trajectory, hinting that decisions made by central banks could trigger the next mega rally for Bitcoin.
Bitcoin at Rock Bottom, Next Stop: $1 Million
Hayes describes the current state of Bitcoin, asserting that the most challenging part of its recent downturn is behind us. He acknowledges that while the market might still experience some resistance testing support levels, he firmly believes that Bitcoin has established a significant base. In one of his more compelling statements regarding future price targets, Hayes explored the idea of a “numerically interesting number” for Bitcoin valuation. When asked if he truly believed Bitcoin could reach $1 million, he replied, “I put $1 million Bitcoin out there – I hope it will be $1 million, but you know maybe it’s just 666,000 or 500,000, what some round number that the human mind sees as significant.” This candid observation speaks to the psychological anchors that can influence market behavior.
Central Banks to Dictate Price Action
In a shift from traditional analyses, Hayes posits that the conventional four-year Bitcoin halving cycle may be losing its relevance in an evolving market landscape. As Bitcoin garners mainstream acceptance, he suggests that the focus should pivot to the policies enacted by leading financial institutions like the Federal Reserve and the European Central Bank. According to Hayes, the influx of liquidity from these central banks will significantly impact Bitcoin’s price, stating, “All I care about is fiat liquidity. As long as we believe it (Bitcoin) works, then it just comes down to how many fiat things are in the denominator, and then you just get to the price.” This highlights the increasingly intertwined relationship between traditional finance and cryptocurrency markets.
“Crypto Regulation Doesn’t Matter to Bitcoin”
Additionally, Hayes has taken a strong stance on the perceived threats posed by incoming regulations on cryptocurrencies, particularly in the United States. He dismisses these regulatory concerns as largely inconsequential to Bitcoin’s trajectory. He believes that the decentralized and permissionless nature of Bitcoin renders it capable of withstanding regulatory challenges. “Crypto regulation doesn’t matter. Bitcoin doesn’t need anyone’s permission. It’s moving with or without them […] If Bitcoin trades on TradFi regulations, then I don’t want to own it. I want something immune to regulation,” he stated, emphasizing Bitcoin’s foundational characteristics that empower it to function independently of governmental constraints.
With Hayes’ bold Bitcoin prediction generating excitement and skepticism alike, the market is left to ponder what lies ahead. Investors and market analysts alike are closely monitoring Bitcoin’s performance as they speculate about its implications for the future.
Bitcoin Price Analysis of the Last 24 Hours: BTC Hovers Around $85K
In the past 24 hours, Bitcoin displayed a rather dynamic movement, beginning the day on an upward trajectory from $86,946 to a peak of $87,750 within the first three hours. However, overbought conditions led to a pullback, bringing the price down to $87,426. The pressure continued as Bitcoin struggled to sustain its upward momentum, ultimately dropping to $85,500. Following this dip, market conditions shifted, prompting a quick rebound as Bitcoin regained momentum to test the $87,500 resistance.
Chart 1: analyzed by raodevansh18, published on TradingView, March 28, 2025
Despite testing these strong resistance lines at $86,800, Bitcoin faced multiple rejections at $87,500 when trying to break out. Eventually, the price fell below $85,500 as the buying pressure waned. This sequence of resistance tests shows the volatility and unpredictability characteristic of the current crypto market.
BTC Price Prediction for March 28: Will BTC Slump Further?
While optimism reigns among many market enthusiasts, the charts presently convey a different sentiment. Bitcoin has seen upward movement recently, yet the coveted $88,000 level remains an elusive target. As it stands, Bitcoin appears likely to find support around $85,000. However, if prevailing market trends persist, there is a real possibility of slipping below this crucial support level. There could be a rapid upward movement later in the day, but a broader consolidation phase around key supports seems inevitable before any decisive breakout occurs.
