Bitcoin Price Crash To $70,000 A Possibility\u00a0<\/h2>\n
The crypto founder shared a 2-hour Bitcoin price chart from BitMEX, explaining how the pioneer cryptocurrency could experience this decline and citing macroeconomic factors tied to United States (US) President Donald Trump<\/a> as a trigger for this price drawdown.<\/p>\n Hayes suggests that the market is entering a cooling phase, characterized by a potential retracement to pre-election liquidity levels. A cooling phase is a period during which the price of a cryptocurrency declines and consolidates as the market attempts to stabilize. It typically comes after a cryptocurrency experiences an explosive price increase<\/a>.\u00a0<\/p>\n Looking at his price chart, the BitMEX Co-founder pinpointed a demand zone around the blue-shaded area between $76,000 and $65,000. This price range serves as a critical support area, where traders expect significant buying interest, enough to prevent further price declines.<\/p>\n Hayes believes that the Bitcoin price’s possible decline to $70,000 hinges on Trump\u2019s budget and debt ceiling decision. He suggests that if Trump fails to pass a budget that increases spending and raises the debt ceiling, then further market capitulation could occur. This means that the market may undergo a rapid sell-off by a large number of investors<\/a>, triggering a panic that could lead to further declines in the Bitcoin price.\u00a0<\/p>\n Additionally, if Trump\u2019s influence over the Republican Party weakens, Hayes indicates that market uncertainty could grow, potentially triggering a continuation of the current Bitcoin downturn. Moreover, a debt ceiling reduction could negatively impact the market\u2019s liquidation and fuel more price fluctuations.\u00a0<\/p>\n Overall, Haye\u2019s bearish outlook for Bitcoin is tied to Trump\u2019s fiscal influence. The BitMEX Co-founder suggests that, for now, the market can only \u201cchill out, retrace, and wait.\u201d<\/p>\n According to MetaEra, the recent 3-day decline<\/a> in the Bitcoin price is the highest crash seen since the FTX fiasco in 2022. In the first three days of this week, Bitcoin recorded a 12.6% drop in value, pushing it down to its current price of $86,227.<\/p>\n MetaEra revealed that the widespread market sell-off could be attributed to the negative sentiment <\/a>and disappointment over President Trump’s lack of swift action regarding his promises to the crypto community. Prior to his election, Trump indicated a strong interest in creating a national Bitcoin Reserve<\/a> and tightening fiat liquidity conditions. With no mention of plans concerning these crucial initiatives, uncertainty looms, leading to a weakened<\/a> market sentiment.<\/p>\n The Bitcoin price has experienced such severe downward pressure and volatility that many are starting toUS election rally.\u00a0 Popular crypto analyst and Co-founder of BitMEX Arthur Hayes has shared a bearish prediction for the Bitcoin price. Hayes projects a further breakdown in Bitcoin\u2019s value, suggesting an imminent drop between $70,000 and $75,000.\u00a0 Bitcoin Price Crash…<\/p>\n","protected":false},"author":1,"featured_media":3183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[1808,65,111,108,799,986,73,112,113,70,71,462,1809],"class_list":["post-3182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-arther-hayes","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-reserve","tag-bitmex","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-donald-trump","tag-metaera"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3182"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3183"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Bitcoin\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/02\/Bitcoin-chart-from-Arthur-Hayes.jpg?w=512&resize=512%2C320\")
<\/p>\nBTC\u2019s 3-Day Decline Marks Highest Since FTX Crash<\/h2>\n
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