Bitcoin (CRYPTO: BTC) reached $86,909.48 on Monday, gaining 1.03% over 24 hours as cryptocurrency markets continue responding to shifting Federal Reserve monetary policy expectations.
What Happened: BitMEX co-founder Arthur Hayes predicted on Sunday that Bitcoin will reach $110,000 before retesting the $76,500 level. “I bet BTC hits $110K before it retests $76.5K,” Hayes wrote on X.
He attributed this forecast to the Federal Reserve shifting from quantitative tightening to quantitative easing for treasuries, adding that tariffs are irrelevant due to “transitory inflation.”
Hayes’ prediction comes as the Federal Reserve held interest rates steady at 4.25%-4.50% last Wednesday, with Chairman Jerome Powell reviving the controversial term “transitory” to describe potential inflationary effects from new tariffs.
The Fed also announced plans to …
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