Bitcoin And Ethereum Price To Hit This Level in June 2022

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The global crypto market tumbled with the rising risks from rising rates and the potential for more tightening by the Federal Reserve.

Bitcoin’s tendency to move in tandem with technology stocks means the biggest cryptocurrency may slump to $30,000 by June : According to Arthur Hayes, the co-founder of BitMEX.

Hayes expects the Nasdaq 100 (NDX) to experience a significant 30% to 50% drawdown and leading crypto assets like bitcoin and ethereum to drop in value too, amid a great deal of stock market carnage.

He predicts bitcoin (BTC) will drop to $30K per unit. Hayes also expects the second leading crypto asset, ethereum (ETH), to slide to $2,500 per unit.

Hayes said he’s buying “crash” puts expiring in June on both coins, while pointing out that he's overall in a “long crypto position.”

He Concludes the Blog-post saying “I will be wrong if the correlation between bitcoin / ether and NDX starts dropping before a crash in risk asset markets, “I’m perfectly okay with that outcome, as I’m already in a long crypto position.