Bitcoin price surged to $78,000 on Wednesday, hitting a new monthly high as strong institutional buying and easing geopolitical tensions boosted investor sentiment. BTC price is 2.5% at $78,029, outperforming a largely flat S&P 500.
According to Walter Bloomberg, Large Bitcoin holders bought around 45,000 BTC in the past week, with many of the purchases happening at the same time. Long-term investors have also added more than 1 million BTC over the last three months, showing growing confidence in the market.
Adding to the bullish sentiment, BitMEX co-founder Arthur Hayes has set an end-of-year Bitcoin price target of $500,000 and a $200 target for HYPE, in an exclusive interview with Coinpedia, while reaffirming that the majority of his personal wealth remains stored in Bitcoin.
Also Read : Exclusive: Arthur Hayes Says He Will Believe Ripple Supporters When Institutions Use XRP On-Chain at Scale
Asked to rank the current top ten crypto assets by conviction, Hayes did not hesitate. Among Bitcoin, Ethereum, Solana, XRP, and the rest of the top ten by market capitalization, he said Bitcoin remains his strongest conviction holding, a position backed by where he keeps most of his own money.
The view aligns with a broader narrative that has been building through 2026, as institutional inflows into Bitcoin spot ETFs continue and macro uncertainty drives demand for hard assets. Bitcoin has been the primary beneficiary of that rotation, with analysts pointing to sustained accumulation by large holders as a structural support for prices.
The $500,000 Bitcoin target would mean a substantial move from current levels and puts Hayes among the more aggressive forecasters in the market. The HYPE target of $200 signals strong conviction in the Hyperliquid ecosystem, which has been one of the standout performers in decentralised derivatives trading in 2026.
Hayes flagged a single wildcard as the biggest variable that could either accelerate or derail his 2026 targets, though the specific wildcard was not included in the available excerpts of the interview.
Based on his publicly stated macro views, the most likely candidate is a shift in US monetary policy or a significant expansion of global liquidity, both of which he has previously identified as the primary drivers of crypto bull markets.
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