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Arthur Hayes, one of the Bitmex founders, warned that the leader of the Crypto Bitcoin Market (BTC) could decrease to 78 thousand dollars after “ugly start to the week”.
“If it fails, $ 75,000 is the next in Crosshairs,” he said on March 10. mail.
Hayes added that Bitcoin decreased to between 70 thousand dollars and 75 thousand dollars could lead to “violent” fluctuations due to many open options in this range.
More than 619 million dollars were classified with a decrease in Bitcoin and the encryption market
The post comes from Hayes after the Bitcoin price decreased from an increase of 86,115.43 dollars to a decrease of 80,052.49 dollars in the past 24 hours. He has since recovered a little trading at 82,114.84 dollars as of 1:08 am EST, a decrease of 4 % in the past 24 hours, according to Coinmarketcap Data.
BTC correction coincided with the decline in the broader encryption market during the same period. All 10 largest encoders by the maximum market were subjected to 24 -hour losses, as the leader of Meme Coin Dogecoin (DOGE) published the largest decrease after more than 8 % roads.
With the decline in prices in the past 24 hours, more than 619 million dollars have been filtered, according to data from Glassnode.
Most of the deals that were liquidated were long positions, representing more than $ 526 million of the refinery amount.
Evidence of fear and the constitution of greed indicates “extreme fear”
The investor’s feelings have also become more fearful in the past 24 hours, with Fear of encryption and greed indicator Seven points of reading “fear” decreased to “extreme fear”.
The famous trader and analyst Michael Van de Bob, with more than 782 thousand followers on X, suggested yesterday that the market correction was due to the whales, who pay prices down so that they could “cliff a lot” Encryption They also enable them to investments at reduced prices.
Classic move on Sunday to empty the markets.
Older players want the prices less as much as you can.
Just hold your own #Bitcoin & #Altcoins.
– Michaël Van De Poppe (Cryptomichnl) March 9, 2025
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