Arthur Hayes Bets on Bitcoin Drop to $35K Before Bottom Fishing Altcoins
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Arthur Hayes predicts Bitcoin will drop 30% from its $48K high to $33K-$35K range before finding support.
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Hayes plans to buy 29 March 2024 $35K Bitcoin put options to bet on a further BTC price drop.
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He sold his Solana and Bonk positions at a small loss in anticipation of a crypto decline.
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Below $35K, Hayes intends to "bottom fish" - buying Solana and meme token Dogwifhat.
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Hayes says crypto markets freely anticipate liquidity changes ahead of manipulated traditional stock/bond markets.