According to the former CEO of the BitMEX exchange, Arthur Hayes, bitcoin will not be able to stay above $30,000.
The coin will resume its retreat in the near future and find a bottom at around $25,000. Ether (ETH) is also likely to be correct, and Hayes identified its fundamental values in the range of $1,700 to $1,800.
The ex-head of BitMEX published an article in which he urged traders to focus on the policy of the Federal Reserve System. If the American regulator changes tactics and refuses to tighten the monetary rate, then the risks of a more significant rollback of BTC and ETH will be leveled.
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In addition to Arthur Hayes, many other experts also believe that the Fed's policies have a direct impact on the value of cryptocurrencies. For example, Galaxy Digital CEO Mike Novogratz recently said that the US regulator may soon put a hold on rate hikes, and we will see capital flow into the tech sector, including digital currencies.
Arthur Hayes also drew attention to the weakening of the correlation between bitcoin-ether and the Nasdaq stock index.
He completely agrees with those observers who believe that the collapse of the Terra ecosystem dealt a strong blow to the crypto market. The sale of more than 80,000 BTC has become one of the main reasons for the fall in the value of the largest digital currency and altcoins.