Why Bitcoin Could Plummet To $90K Thanks To President Trump’s ‘Big, Beautiful Bill’, According To Billionaire Hayes
BitMEX co-founder Arthur Hayes is still extremely bullish on Bitcoin, but he believes the apex crypto could briefly plunge and retest $90,000 levels this year if President Trump’s Big, Beautiful spending bill is signed into law.
In a July 2 blog post entitled “Quid Pro Stablecoin,” the African-American crypto billionaire said that the president’s budget mega-bill — which aims to slash taxes and increase the debt ceiling — could result in the U.S. Treasury borrowing more.
The bill cleared Congress on July 3 after passing the House of Representatives on a narrow 218-214 vote. Notably, financial analysts estimate that the bill could increase the national debt by $3.3 trillion over a decade.
President Trump is expected to sign the bill into law on Independence Day.
“Proceed With Caution”
Hayes argued that the Treasury would refill its General Account, causing a potential liquidity drain from markets — and in turn impacting the price of assets such as Bitcoin.
This drain, estimated to be about $500 billion, could temporarily drag Bitcoin’s price to the $90,000 to $95,000 range. “Proceed with caution,” Hayes posited, adding that “the bull market might be interrupted for a short period of time.”
Bitcoin was trading for $109,025 per coin at publication time after barely moving over the past 24 hours. The crypto is up over 1.9% in the last seven days, according to data from CoinGecko, and is still 2.6% away from its May historic high of $111,814.
Despite potential short-term correction, Hayes — now the chief investment officer at the VC firm he co-founded, Maelstrom Fund — remains upbeat about Bitcoin’s long-term price action, suggesting that a smooth market absorption of the bond issuance could keep Bitcoin stable above $100,000.
The former BitMEX CEO previously predicted that the U.S. central bank’s monetary policy, specifically money printing, would eventually be a boon for Bitcoin and other crypto assets.
Earlier last month, Hayes forecasted that Bitcoin would skyrocket in the coming months to smash $250,000 before the end of 2025. The rocket surge will be bolstered by the U.S. Federal Reserve accelerating money printing to curtail the ballooning national debt.
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Arthur Hayes Predicts Crypto Stagnation: “Sideways or Slightly Down”
Why Bitcoin Could Plummet To $90K Thanks To President Trump’s ‘Big, Beautiful Bill’, According To Billionaire Hayes
BitMEX co-founder Arthur Hayes is still extremely bullish on Bitcoin, but he believes the apex crypto could briefly plunge and retest $90,000 levels this year if President Trump’s Big, Beautiful spending bill is signed into law.
In a July 2 blog post entitled “Quid Pro Stablecoin,” the African-American crypto billionaire said that the president’s budget mega-bill — which aims to slash taxes and increase the debt ceiling — could result in the U.S. Treasury borrowing more.
The bill cleared Congress on July 3 after passing the House of Representatives on a narrow 218-214 vote. Notably, financial analysts estimate that the bill could increase the national debt by $3.3 trillion over a decade.
President Trump is expected to sign the bill into law on Independence Day.
“Proceed With Caution”
Hayes argued that the Treasury would refill its General Account, causing a potential liquidity drain from markets — and in turn impacting the price of assets such as Bitcoin.
This drain, estimated to be about $500 billion, could temporarily drag Bitcoin’s price to the $90,000 to $95,000 range. “Proceed with caution,” Hayes posited, adding that “the bull market might be interrupted for a short period of time.”
Bitcoin was trading for $109,025 per coin at publication time after barely moving over the past 24 hours. The crypto is up over 1.9% in the last seven days, according to data from CoinGecko, and is still 2.6% away from its May historic high of $111,814.
Despite potential short-term correction, Hayes — now the chief investment officer at the VC firm he co-founded, Maelstrom Fund — remains upbeat about Bitcoin’s long-term price action, suggesting that a smooth market absorption of the bond issuance could keep Bitcoin stable above $100,000.
The former BitMEX CEO previously predicted that the U.S. central bank’s monetary policy, specifically money printing, would eventually be a boon for Bitcoin and other crypto assets.
Earlier last month, Hayes forecasted that Bitcoin would skyrocket in the coming months to smash $250,000 before the end of 2025. The rocket surge will be bolstered by the U.S. Federal Reserve accelerating money printing to curtail the ballooning national debt.
Read More
Bitcoin Climbs as Trump’s $5 Trillion Bill Sparks Market Volatility and Political Tensions: Your Weekly Crypto Market Update