Crypto investor Arthur Hayes said Bitcoin’s price action going forward is likely to move in fits and starts rather than a smooth, explosive rally, arguing that investors remain psychologically scarred after Bitcoin underperformed AI stocks over the past few years. Hayes said the market needs Bitcoin to convincingly clear $100,000 and $125,000 before investors fully commit to it as their preferred bet against renewed money printing aimed at propping up the AI sector. Hayes pointed to Bitcoin’s roughly 30% move as an example of that pattern already playing out, suggesting the market may now digest those gains for a while and potentially retest the $70,000 level before its next leg higher.
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