Arthur Hayes Predicts Bitcoin Break Above 90,000 to 126,000

Arthur Hayes, the chief investment officer of the crypto fund Maelstrom and a cofounder of BitMEX, said Bitcoin’s next advance could accelerate after it breaks above the 90,000 level, setting a target of 126,000. Hayes laid out the view in a recent essay, arguing the current bull-market phase is being driven by a broad liquidity and credit expansion linked to artificial intelligence spending and the fallout from the United States’ attack on Iran on February 28. Bitcoin has been trading around the low 80,000s, after establishing a broader low near 60,000 earlier this year, according to market data referenced in the reports.

In Hayes’ framework, the rally is less about a narrow move in digital-asset demand and more about what he describes as fiat credit being expanded to support large-scale infrastructure buildouts. He said AI investment has become difficult to fund solely through the operating cash flow of major technology firms and is increasingly flowing through the credit channel, with central banks and commercial lenders playing a role. Hayes pointed to easing financial conditions attributed to the Federal Reserve and the People’s Bank of China as part of the backdrop,...