Bitcoin $104,673.8 Its price fell around 4% to below $101,000 under strong selling pressure from the overall crypto market ahead of the FOMC meeting. While BTC struggles to overcome the $106,000 resistance level, former BitMEX CEO Arthur Hayes first suggests that the value could drop to $70,000.
Arthur Hayes’ Prediction
Arthur Hayes predicts that Bitcoin will crash to $70,000 and then start an uptrend again. Hayes states that in this process, the US Federal Reserve will return to printing money.
“70k-75k correction in BTC, a mini financial crisis and a rally to 250k by the end of the year,” says Hayes.
Corrections in Altcoins
The decline in the Bitcoin market, Ethereum 
$3,304.1XRP, Solana, Cardano 
$0.98394 and Dogecoin 
$0.351055 It also caused declines of 5-10% in altcoins such as. BTC sales by long-term investors also supported this decline.
Market Liquidations
In Asian markets, Bitcoin and other altcoins faced liquidations exceeding $548 million. The majority of these liquidations occurred from long positions.
Preparation for the FOMC Meeting
The first FOMC meeting after Donald Trump’s inauguration is approaching. The US Federal Reserve’s interest rate decision will be decisive on crypto markets.
China’s DeepSeek AI Impact
The rise of China’s DeepSeek AI platform led to declines of more than 3% in Nasdaq futures. This increased the selling pressure on the Bitcoin price and the overall crypto market.
Deepening Corrections in the Altcoin Market
Ethereum price fell 5.72% to $3,166. Solana and Dogecoin also lost value by 10.27% and 8.25% respectively. This affects the altcoin market’s expectations for the alt season starting in Q1 2025.
CryptoQuant CEO Ki Young Ju, one of the experts, stated that the Bitcoin bull trend is not over and there is room for growth. According to Ju, the entry of new retail investors into the market will continue to support the bull trend.
The FOMC meeting and other macroeconomic indicators are critical for the future of crypto markets. Investors closely follow the effects of interest rate decisions and global economic data on the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
