Will BTC Dip Before and After Halving? BitMEX Co-Founder Narrates 

• BitMEX co-founder predicts that BTC will plummet before and after the Bitcoin halving.
• Hayes posits that the USD’s liquidity will be constrained during this period, resulting in high crypto-selling pressures.
• Explaining a general trend in the market, he points out that when a majority thinks of an outcome, the opposite happens.

The pioneer cryptocurrency, Bitcoin, has been experiencing fluctuations and volatility over the past few weeks amidst anticipations of the upcoming Bitcoin halving. BitMEX co-founder Arthur Hayes, in a recent blog post titled “Heatwave,” predicted that Bitcoin will plummet before and after the halving event.

Though Bitcoin experienced a bullish rally following the Spot Bitcoin ETF launch in January 2024, surging past its previous all-time high of $69k and setting a new all-time high of $73,700, it plummeted to $65k at the onset of April. While analysts share different perspectives on Bitcoin’s trajectory concerning the halving event, Hayes believes that the event will cause significant price dips.

In addition, Hayes asserted that the US dollar would experience a liquidity constraint, resulting in heightened crypto-selling pressures. He added that the quantitative tightening (QT) cycle will become loose after May 1.

The BitMEX co-founder further highlighted the usual trend in crypto markets. He wrote, “When most market participants agree on a certain outcome, the opposite usually occurs.” Reinforcing his thoughts on the market slump before and following the halving, he posited,

Currently, Bitcoin is trading for $71,042, with a slight increase of 1.92% over the last 24 hours. In a week, Bitcoin has experienced a gain of 6.41%, and in a month, a surge of 3.95%.