Bitcoin’s rollercoaster ride continues, and according to BitMEX co-founder Arthur Hayes, the next stop could be $70K. His prediction follows Bitcoin’s four-month low of $76.8K on March 11th, marking a 36% correction from its $110K all-time high.
But Hayes reassures investors – this is textbook bull market behavior, not a sign of long-term weakness.
His thesis? Traditional markets need to crash first. Hayes believes that the S&P 500 ($SPX) and Nasdaq ($NDX) will have to take a serious dive before institutions step in with quantitative easing (QE) — the economic lifeline that floods the system with liquidity. More money in the system means higher asset prices, and that’s when Bitcoin could see its next surge.
The data seems to support this outlook. Bitcoin’s Relative Strength Index (RSI) is at its lowest since August 2024, often a sign of a trend reversal. On top of that, Bitcoin’s market cap is mirroring past pre-rally cooldowns, suggesting the current dip might be setting up the next major move.
If Hayes is right, Bitcoin’s short-term pain could be long-term gain. A final dip to $70K may be the last stop before renewed institutional demand sends BTC to new highs. The question is—are we at the bottom, or is one more shakeout coming?
The U.S. Dollar Index ($DXY) recently saw one of its largest weekly declines, reinforcing Hayes’ outlook. A weakening dollar often precedes capital rotation into Bitcoin, making this a strong signal for a potential $BTC reversal.
Coinbase’s Return To India
Following regulatory issues that forced it to withdraw from the market in 2023, Coinbase is making a triumphant return.
In a statement issued by Coinbase, they shared that they secured registration with India’s Financial Intelligence Unit (FIU), paving the way to offer crypto trading services in the country. This move signifies Coinbase’s commitment to expanding into key global markets.
India, recognized for its dynamic crypto and on-chain innovation landscape, is seen as a crucial market for Coinbase’s growth.
The company plans to launch retail services later this year, with further expansion and product development to follow.
Chainalysis shows that India has the world’s highest rate of grassroots crypto adoption. This, coupled with Coinbase’s return, could see some bullish prospects for the industry.
Which of the best altcoins could stand to benefit from these updates? Here, we’ve looked at three that could see a positive trend in the future despite the current dip.
- BTC Bull Token ($BTCBULL) – Passive $BTC Rewards
BTC Bull Token ($BTCBULL) is tied to $BTC. Holders can earn passive $BTC rewards when Bitcoin reaches key project milestones. Who doesn’t love getting something for doing nothing?
- Meme Index ($MEMEX) – Indexes Tailored to Every Risk Profile
$MEMEX brings four different indexes with different degrees of risk (based on volatility) and reward.
- Pudgy Penguins ($PENGU) – Penguin Power: Community Revival
Arguably one of the cutest meme coins on the market, Pudgy Penguins is all about positivity, proliferating the penguin meme culture and good vibes.
This article isn’t financial advice from a professional, and you must do your own research before investing. Only invest what you can afford and feel comfortable losing – remember there are no guarantees of either a win or loss.
