Bitcoin Set for Bullish Momentum, Says Arthur Hayes

By Benson Toti
April 11, 2025, 4:32 PM UTC
Edited by Jayson Derrick

In a recent statement, Arthur Hayes, the co-founder of cryptocurrency exchange BitMEX, expressed optimism regarding Bitcoin’s (BTC) trajectory, suggesting that the digital asset may soon enter what he describes as "up only mode." This assertion comes as Bitcoin has shown resilience, climbing over $83,000 on April 11 and leading a modest rally among cryptocurrencies amid broader market volatility.

Current Market Conditions

As per data from Crypto.news, Bitcoin peaked at approximately $83,200 across various major crypto exchanges, though it faced pressure from risk assets as the day progressed. The fluctuations in Bitcoin’s price coincided with swings in the stock market, which reacted to ongoing tariff disputes between the United States and China.

Despite the market challenges, Hayes remains bullish on Bitcoin. He took to social media platform X (formerly Twitter) to share his insights on the current financial climate, highlighting a notable increase in the U.S. 10-year Treasury yield, which rose above 4.5%. This increase, according to Hayes, may trigger a policy response from the U.S. government, potentially stimulating further interest in Bitcoin.

"It’s on like donkey kong. We will be getting more policy response this weekend if this keeps up," Hayes tweeted. "We are about to enter UP ONLY mode for $BTC."

Tariff Concerns and Economic Outlook

The backdrop to this optimistic forecast is the ongoing trade war between China and the U.S., where both nations have imposed significant tariffs on each other’s goods. Recently, the Chinese government responded with retaliatory tariffs reaching as high as 125% on U.S. imports, following the Biden administration’s own hikes of 145%. The uncertainty and tension from these tariffs remain significant factors impacting investor sentiment.

Analysts, including Scott Melker, also weighed in on the situation, pointing to the dual pressures of rising yields and tariff-related concerns as primary catalysts for downturns in risk assets. Melker noted the disconnect in market behavior, observing that while stocks opened lower, bond yields surged.

Market Sentiment and Expert Takes

Expert opinion on the broader economic environment aligns with Hayes’ views, as many analysts are wary of the rising Treasury yields, perceiving them as indicative of underlying economic weaknesses. This sentiment has been echoed by industry leaders, including BlackRock CEO Larry Fink, who suggested that the U.S. could be on the verge of entering a recession.

"I think you’re going to see, across the board, just a slowdown until there’s more certainty,” Fink stated in an interview with CNBC. He mentioned a recent 90-day pause on reciprocal tariffs as a potential contributor to ongoing market uncertainties.

As of the latest trading session on April 11, Bitcoin was trading around $82,346, continuing to reflect volatility within the cryptocurrency market at a time marked by fluctuating economic indicators and geopolitical tensions.

Conclusion

As Bitcoin hovers near significant price levels, the coming weeks will be crucial in determining whether Hayes’ predictions of a bullish uptrend will materialize. Investors and market watchers alike will be closely monitoring policy developments and economic indicators as they assess the future of the leading cryptocurrency in a rapidly evolving financial landscape.

For further updates on Bitcoin and other cryptocurrencies, stay tuned to Crypto.news.

This article is for informational purposes and does not constitute financial advice.

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