[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-arthur-hayes-sees-bitcoin-drop2080191c600-dd2a-74c1-882e-5a608c090f2f":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":9,"asset":18,"tagsCategories":19,"totalComments":20,"lang":21,"unique_views_count":20,"enrichStatus":18},"arthur-hayes-sees-bitcoin-drop2080191c600-dd2a-74c1-882e-5a608c090f2f","1725595439000","Arthur Hayes Sees Bitcoin Drop Below $50K Over Weekend, Places Short Bet","\u003Cp>Co-founder and ex-CEO of BitMEX crypto exchange Arthur Hayes said Friday that he expects \u003Ca href=\"https://cryptonews.com/coins/bitcoin/\">Bitcoin’s\u003C/a> price to drop below $50,000 this weekend. He revealed that he has taken a short position, betting on a decline.\u003C/p>\u003Cp>“Pray for my soul, for I am a degen,” he said in an X post. \u003C/p>\u003Cdiv>\u003Cp>\u003Ca href=\"https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC\u003C/a> is heavy, I’m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am a degen.\u003C/p>— Arthur Hayes (@CryptoHayes) \u003Ca href=\"https://twitter.com/CryptoHayes/status/1831866865846776035?ref_src=twsrc%5Etfw\">September 6, 2024\u003C/a>\u003C/div>Bitcoin Drop to $46K Possible as Fed Rate Cut Looms, Analysts Say\u003Cspan>\u003C/span>\u003Cp>Bitcoin was last down 0.7% on Friday, trading at $56,731. It is down nearly 5% over the past week. \u003C/p>\u003Cp>Recently, Bitfinex analysts warned that the \u003Ca href=\"https://cryptonews.com/news/analysts-caution-20-bitcoin-decline-as-us-rate-cut-fuels-recession-fears/\">anticipated Federal Reserve interest rate cut\u003C/a> could cause Bitcoin to decline further.\u003C/p>\u003Cp>They mentioned that while a 25 basis point cut could boost Bitcoin long-term by increasing liquidity and easing recession fears, a larger cut might negatively impact the price.\u003C/p>\u003Cp>If Bitcoin falls by 20%, its value would drop to $46,000, a level not reached since Feb. 8. This view aligns with 10x Research, which \u003Ca href=\"https://cryptonews.com/news/bitcoin-low-40000s-zone-marks-best-entry-for-buying-the-dip/\">identified the low $40,000s as an ideal entry point\u003C/a> for the next bull market.\u003C/p>\u003Cp>Opinions on the severity of the correction vary. Crypto analyst Moustache believes the market could bottom around $57,000. He bases this prediction on historical fractal patterns, which help identify key support, resistance, and potential trend shifts.\u003C/p>How Short Sellers Benefit from Falling Bitcoin Prices\u003Cspan>\u003C/span>\u003Cp>An investor shorts Bitcoin by borrowing it, selling it, and later buying it back at a lower price to return to the lender, aiming to profit from the price drop. This strategy is used when the investor expects Bitcoin’s value to fall.\u003C/p>\u003Cp>It allows investors to benefit from a bearish market outlook. If they believe Bitcoin is overvalued or expect a decline due to market trends or regulations, shorting lets them profit from the drop. Additionally, shorting can protect those with long Bitcoin positions, acting as a hedge against potential market downturns.\u003C/p>\u003Cp>The post \u003Ca href=\"https://cryptonews.com/news/arthur-hayes-bitcoin-drop-50k-weekend-short-position/\">Arthur Hayes Sees Bitcoin Drop Below $50K Over Weekend, Places Short Bet\u003C/a> appeared first on \u003Ca href=\"https://cryptonews.com\">Cryptonews\u003C/a>.\u003C/p>","https://cryptonews.com/news/arthur-hayes-bitcoin-drop-50k-weekend-short-position/",null,"[\"Bitcoin News\",\"Bitcoin\",\"Bitcoin Price Prediction\"]","[\"Bitcoin\",\"BTC\",\"Bitfinex\",\"Bitmex\",\"Reserve\",\"RSV\",\"X\",\"Market\",\"Hedge\",\"HDG\"]","[{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/BTC.png\",\"name\":\"BTC\"},{\"name\":\"Bitfinex\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/bitfinex.png\"},{\"name\":\"Bitmex\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/bitmex.png\"},{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/RSV.png\",\"name\":\"RSV\"},{\"name\":\"X\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/x.png\"},{\"name\":\"Market\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/market.png\"},{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/HDG.png\",\"name\":\"HDG\"}]","208",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/crypto-news.png","Crypto News","","[\"Crypto\"]","0","EN"]