Bitcoin (BTC) fell under $ 100,000 for the first time in more than six weeks, causing market worries. However, Arthur Hayes, co-founder of Bitmex, does not happen, considering this decrease as temporary and expecting Bitcoin soon to show its strength.
In short
- Bitcoin fell at $ 98,000 after the conflict between the United States and Iran, but quickly rebounded over $ 101,000.
- Arthur Hayes says this weakness is temporary, seeing it as a preparatory phase for its role of refuge value.
- On-chain data show that long-term holders do not sell, without a sign of overheating on the market.
- A bullish configuration is emerging on the side of altcoins, with graphics and capital flows suggesting the beginnings of a potential break.
Bitcoin stands up after a brief fall under a key level
The Bitcoin price fell to $ 98,000 on Sunday, June 22, shortly after the United States launched strikes on Iranian nuclear installations. These events generally trigger cautious behavior in investors, in particular with risky assets.
However, Hayes remains confident that The BTC will reboundbecause he believes that current weakness is temporary. He expects Bitcoin to reaffirm himself as a refuge value, especially since central banks around the world are preparing to intensify liquidity. He said:
Do you hear that? … It is the sound of the tickets that prepare to accomplish their patriotic duty. This weakness will pass and the $ BTC will leave no doubt about its status of refuge value.
Arthur Hayes
At the time of writing, Bitcoin had returned to the $ 101,000 mark. The rapid rebound helped to calm the nerves after this sharp decline.
Changpeng Zhao, co-founder of Binance, expressed a similar opinion, noting that a fall generally precedes a new historic summit. Thus, this kind of decline is not a reason to panic.
On-chain data indicate market stability
Under the surface, the blockchain tells a quieter story. Long -term Bitcoin holders do not flank. Analyst on-chain Avocado, writing on cryptocurrency, examined the Binary Coin Days Destroyed indicator.
The analyst noted that at the moment, reading is below 0.8 – a point where past corrections have often started. She recently culminated at 0.6 and is now down, which suggests that Informed holders retain their positions.
This type of data indicates a calm phase, not an overheated phase. Historically, periods like this often lead to major upper movements. When the market slows down, it often prepares the base for the next step in increase.
Markus Thielen, research manager at 10x Research, considers the range of $ 98,000 to $ 102,000 as a critic. He told Cointelegraph that if Bitcoin remains in this area, there is a margin for short -term gains. But if he falls below, he advises traders to start focusing on risk management rather than looking for yields.
Thielen believes that The price of bitcoin could continue to negotiate itself laterally at the moment. Without clear triggers, it could stay in a narrow beach for a while.
Institutional interest remains strong despite volatility
Despite the fluctuations, the big actors have not lost interest. Institutional trust remains strong and stable.
The Japanese investment group Metaplanet added 1,111 BTC to its assets, bringing its total to 11,111 pieces – valued at more than $ 1 billion. This follows a recent purchase of 1,112 BTC on June 15. Such operations show that large companies are still betting on the long -term value of bitcoin.
In addition, in the United States, Texas has adopted a law allowing the State to have bitcoin in a strategic reserve. It is a clear signal that governments are starting to consider Bitcoin as a simple speculative active.
Altcoins could be the next on the list
While Bitcoin is good, the projector could soon turn to altcoins. Longtime analyst and trader Crypto Beast think that the conditions are preparing for a classic Altcoin season.
He says he has already seen this configuration – and each time, she is followed by rallies marked on smaller pieces.
Here is what is preparing below the surface:
- Bitcoin dominance approaches resistance, while ETH/BTC is close to a key support area
- Stablecoin entries increase, and Google research suggests a renewed interest in the general public
- The graphic structure reflects past cycles where altcoins mounted after Bitcoin peak
- Capital moves from large capitalizations to medium and small tokens, a typical start sign
- Despite the silence, the Altcoins gain in traction and could be the next to carry the rally
Even if uncertainty still hovers, the general perspectives have not changed. Bitcoin has returned to $ 101,000 and continues to benefit from both traders and institutions, indicating continuous confidence despite current turbulence.
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