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Bitcoin Sinks Below $100,000 as Trading Volume Explodes
Maelstrom Fund CIO Arthur Hayes predicts BTC could drop as low as $70,000 before an eventual rise to $250,000 this year.
Vince Dioquino
By Vince Dioquino
Jan 27, 2025
3 min read
Source: Shutterstock
Source: Shutterstock
Bitcoin's trading activity exploded on Monday with volume surging 222% to $55.3 billion, as Maelstrom Fund CIO Arthur Hayes predicted a sharp correction that could drag the price as low as $70,000 before an eventual rise to $250,000 this year.
The alpha crypto is currently trading just a smidge above the $99,000 level, down 8.67% from its January 20 all-time high of roughly $108,000, data from CoinGecko shows.
Meanwhile, forced liquidations in the crypto derivatives sector spilled out some $850 million in the past 24 hours, with long positions accounting for the majority of losses, Coinglass data shows. 0 reply
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