Arthur Hayes: Bitcoin has bottomed out, sticking to the prediction of reaching $250,000 by the end of the year

BitMEX co-founder Arthur Hayes stated in a recent program that despite having only about 30 days left until the end of the year, he still insists on his prediction that Bitcoin will rise to $250,000. Hayes believes that Bitcoin's previous pullback to $80,600 and the liquidity of the dollar have both bottomed out.

He pointed out that with the leverage clearing in October and the conclusion of the "basis trading" strategy by institutions through ETFs, the market has completed its reset. Coupled with the macro expectations that the Federal Reserve may end quantitative tightening (QT) and further cut interest rates, these catalysts are expected to drive Bitcoin to break through the current historical high of $126,220 and aim for the $250,000 target before the end of the year.