Bitcoin price plunged 8% to $76,100 in the past 24 hours, triggering over $1.4 billion in market liquidations, with Arthur Hayes calling it a buy-the-dip opportunity.
Crypto market liquidations have soared to $1.4 billion in the last 24 hours as Bitcoin BTC $93 673 24h volatility: 1.3% Market cap: $1.86 T Vol. 24h: $16.38 B price collapsed 8%, slipping to $76,100 levels as of press time. Former BitMEX CEO Arthur Hayes believes that this is an opportune time for investors to buy the BTC dips while expecting that the Fed’s quantitative easing program could begin soon.
Buy the Bitcoin Price Dips, Says Arthur Hayes
In his recent message on the X platform, Arthur Hayes wrote about the current market volatility while acknowledging his previous call of BTC taking support at $76,500. However, BTC has already dropped under this support amid massive selling pressure.
In a humorous tone, Hayes wrote:
“So close fam. Oh what shall I do, if $BTC breaks below $76,500 my credibility will be in tatters.”
However, looking beyond the current volatility, Hayes stated that it’s the right time to buy the Bitcoin price dips while showing confidence in BTC’s potential for long-term upside.
In a more technical note, Hayes also pointed to the importance of the MOVE Index – a measure of US bond market volatility – as a key signal for when the Federal Reserve may intervene.
If ur trying to predict when the Fed caves and goes Brrr, watch the bond vol MOVE Index. As it goes higher anyone doing financed treasury or corp bond trades will be forced to sell by higher margin reqs. These are the two mrkts the Fed will defend to death. >140 yachtzee time! pic.twitter.com/YrtVSMNdl3
— Arthur Hayes (@CryptoHayes) April 7, 2025
Hayes further warned that the rising MOVE levels could trigger forced selling in Treasury and corporate bond markets due to higher margin requirements. “These are the two markets the Fed will defend to death,” he added, highlighting that the period of quantitative easing (QE) could be nearing.
BTC Technical Indicators, More Pain Left Ahead?
Although Arthur Hayes predicts a QE and liquidity flow very soon, BTC has been moving opposite to his recent predictions. Furthermore, technical indicators warrant caution at this stage.
Crypto analyst Ali Martinez has flagged a key bearish indicator for Bitcoin price, which has a “death cross” formation, wherein the 50-day simple moving average (SMA) has just crossed below the 200-day SMA. “This technical signal often precedes extended downtrends, noted the analyst.
#Bitcoin $BTC has just flashed a death cross as the 50-day SMA dipped below the 200-day SMA. This technical signal often precedes extended downtrends. pic.twitter.com/6EaX2fAnKK
— Ali (@ali_charts) April 7, 2025
Bloomberg’s Senior Commodity Strategist Mike McGlone has cast doubt on Bitcoin’s long-term bullish momentum, questioning the conviction behind the “HODL” mindset. “Everyone’s in for the long-term – as long as it’s going up,” McGlone remarked, noting that while Bitcoin’s surge from $10,000 to $100,000 once seemed inevitable due to strong trends.
What does HODL stand for? Everyone’s in for the long-term, as long as it’s going up. Did not know how #Bitcoin was going to get to $100,000 from $10,000 in 2020, but the trends showed up. Now, I see the reversion path back toward $10,000. The technology is awesome as evidenced by…
— Mike McGlone (@mikemcglone11) April 6, 2025
However, he added that the current market dynamics suggest a potential reversion path back toward the $10,000 level.
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