Bitcoin price is poised to hit $110,000 before retesting the $76,500 range, according to Arthur Hayes, pointing to easing inflationary concerns and more favorable monetary policy conditions in the US that are set to bolster risk assets, including the world’s first cryptocurrency.
Still, the decentralized finance (DeFi) industry took another hit after an unknown whale exploited Hyperliquid’s algorithms to generate over $6 million in profit on a memecoin short position.
Bitcoin “more likely” to hit $110,000 before $76,500 — Arthur Hayes
Bitcoin may reach a new all-time high of $110,000 before any significant retracement, according to some market analysts who cite easing inflation and increasing global liquidity as key factors supporting a price rally.
Bitcoin (BTC) has risen for two consecutive weeks, achieving a bullish weekly close just above $86,000 on March 23, TradingView data shows.
Combined with fading inflation-related concerns, this may set the