BitMEX Founder Arthur Hayes Predicts Bitcoin Will Print New Leg Down – Here’s His Price Target

Arthur Hayes Predicts Bitcoin Drop Below $40,000 as US Treasury Announcement Looms

Bitcoin (BTC) put option purchased by BitMEX founder

Arthur Hayes, the founder of BitMEX, has announced that he has purchased a Bitcoin put option with a strike price of $35,000, expiring on March 29. In a post on the social media platform X, Hayes expressed his belief that Bitcoin is currently looking “heavy” and will likely drop below the $40,000 mark. He attributes this potential drop to the upcoming U.S. Treasury announcement at the end of the month, which will detail Treasury auctions and the new debt to be issued.