The price of Bitcoin has fallen below $100,000 compared to its historical high of nearly $110,000 just before the inauguration of U.S. President Donald Trump.
Now that Larry Fink from BlackRock has revealed his discussions with funds about purchasing Bitcoin, cryptocurrency trader Arthur Hayes, who is closely monitored, has warned of an impending "financial crisis," which he expects will lead to new stimulus measures from the U.S. Federal Reserve.
“I predict a Bitcoin correction to $70-75k and a mini-financial crisis,” Hayes wrote.
Bitcoin surged above $70,000 following Donald Trump's victory in the November 2024 elections.
Last week, Trump fulfilled his campaign promise to prioritize a review of cryptocurrency policy, ordering the establishment of a task force on Bitcoin and cryptocurrencies that will propose new regulations and explore the possibility of creating a national cryptocurrency reserve.