The recent withdrawal of Bitcoin has not shaken the market sentiment and the industrial veteran Arthur Hayes has faith in the long -term strength of the active.
In a 22-x post, Bitmex co-founder Arthur Hayes offered an optimistic view of Bitcoin’s prospects (BTC), which hints on renewed power despite the continuous market volatility.
“This weakness will pass and $ BTC will leave no doubt about the status of the safe haven,” he wrote.
According to him, the recent dip is only a temporary phase and the wider economic background can quickly become favorable for Bitcoin. Hayes suggested that the rising global pressure can lead to increased liquidity that is injected into the financial system, which could benefit and restore Bitcoin as a reliable value storage.
The comments from the BitMex-MEDE founder came after Bitcoin fell below $ 100,000 during the weekend and $ 98,000 became amicable in the middle of the growing geopolitical tensions. Although it has been actively returned to trade above $ 101,000 since then, the recent DIA marked the lowest level since the beginning of May, about a decrease of 11% compared to the highest point in this period.
The fall in the price of the marketus was not isolated and part of a broader decline in the cryptomarkt, characterized by serious liquidations and a immersion in the market capitalization of all cryptocurrencies.
Arthur Hayes is not the only industrial figure Bullish on BTC. Pro-bitcoin Michael Saylor recently also confirmed his positive view of Bitcoin and said: “Nothing puts this orange” in a separate one after.
From a technical perspective, however, Bitcoin still shows signs of weakness in the short term. Market analyst stretches Capital pointed out that Bitcoin again testing the key support around $ 104,400, a level that it has fallen for the second time in the past weeks.
Unless the token closes the week above this level, the level of $ 104,400 can turn over in resistance and open the door to further down. Bitcoin acts at $ 101,712 at the time of the press and holds stable for the past 24 hours while the rebound continues.
