Bitcoin experienced a sharp decline of nearly 6% in the last 24 hours, falling briefly below $98,000. This drop occurred despite a significant development on Friday when President Donald Trump announced the formation of a crypto policy group set to shape the country\u2019s crypto industry within six months.<\/p>\n
Market experts are now cautioning that further losses may follow.<\/p>\n
BitMEX co-founder Arthur Hayes predicts<\/a> a turbulent path ahead for Bitcoin, expecting a correction to between $70,000 and $75,000 due to a \u201cmini financial crisis.\u201d<\/p>\n Despite this, he remains bullish on Bitcoin\u2019s long-term outlook, projecting a rally to $250,000 by the end of the year, driven by renewed monetary stimulus.<\/p>\n \u201cI am calling for a $70k to $75k correction in $BTC, a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year.\u201d<\/p>\n Bitcoin\u2019s recent plunge <\/a>was attributed to a broader market sell-off triggered by the rising popularity of the China-based artificial intelligence app DeepSeek. The app\u2019s performance, which rivals OpenAI\u2019s models with lower chip requirements, has raised concerns among investors, prompting a \u201crisk-off\u201d sentiment.<\/p>\n Bitcoin, which surged past $70,000 in November following Donald Trump\u2019s election victory and subsequent pro-crypto initiatives, remains closely tied to the US stock market. Its price tends to move in tandem with high-growth tech stocks, which have benefited from the AI boom since 2022. However, DeepSeek\u2019s advancements have created fears of a shift in the market, which ultimately led to sharp declines in crypto prices.<\/p>\n Market analyst Adam Kobeissi described<\/a> the latest sell-off as a reaction to investor uncertainty driven by DeepSeek\u2019s disruptive potential.<\/p>\n Data shared by crypto analyst Ali Martinez shows the failure of a head-and-shoulders pattern in Bitcoin\u2019s price action, suggesting a bullish outlook for the world\u2019s largest cryptocurrency. In his latest tweet, Martinez indicates that this pattern breakdown points to a potential upside target of $122,000 following the invalidation of the bearish setup and the subsequent possibility of significant upward momentum.<\/p>\n The failure of this head-and-shoulders pattern suggests a potential upside target of $122,000 for #Bitcoin<\/a> $BTC<\/a>! pic.twitter.com\/vMTfoaRNSO<\/a><\/p>\n \u2014 Ali (@ali_charts) January 27, 2025<\/a><\/p>\n\n Martinez also drew parallels between BTC\u2019s current price action and its 2015-2018 market cycle. In his latest observation<\/a>, the analyst noted that historically, Bitcoin tended to go parabolic around this stage of the cycle.<\/p>\n The post Arthur Hayes Predicts Bitcoin Correction to $75K as BTC Loses $100K Mark<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin experienced a sharp decline of nearly 6% in the last 24 hours, falling briefly below $98,000. This drop occurred despite a significant development on Friday when President Donald Trump announced the formation of a crypto policy group set to shape the country\u2019s crypto industry within six months. Market experts are now cautioning that further […]<\/p>\n","protected":false},"author":0,"featured_media":39261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-39260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/39260"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39260"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/39260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/39261"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin\u2019s Failed Head-and-Shoulders Pattern<\/h2>\n