Bitcoin's Dip? Just a Blip, Says Crypto Titan Arthur Hayes

BitMex Founder Sees Bright Future for BTC Amid Market Shifts

Listen up, crypto fans! Bitcoin might have taken a hit recently, but don't let that shake your faith. Arthur Hayes, the legendary co-founder of BitMex, is here to tell you that this isn't the end of the road for the king of crypto.

On June 22, Hayes took to X with a fiery post, lighting up the crypto world with his unwavering optimism for Bitcoin's future. Despite the market's rollercoaster ride, he's calling it: Bitcoin's got the power to bounce back stronger than ever.

"This weakness shall pass and $BTC will leave no doubt as to its safe haven status," he declared, leaving no room for doubt in his bullish stance.

Hayes isn't just throwing out empty promises. He's got his eyes on the bigger picture, seeing the recent dip as nothing more than a hiccup. With global tensions rising, he predicts a flood of liquidity into the financial system, setting the stage for Bitcoin to reclaim its throne as a top-tier store of value.

Do you hear that? It's the sound of the money printers gearing up to do their patriotic duty. This weakness shall pass, and $BTC will leave no doubt as to its safe haven status.

Hayes dropped his bombshell after Bitcoin briefly plummeted below the $100,000 mark over the weekend, touching a nerve-wracking $98,000 as geopolitical tensions spiked. But don't panic just yet—Bitcoin has clawed its way back above $101,000. Sure, it hit its lowest point since early May, with an 11% drop from its peak, but Hayes isn't sweating it.

Bitcoin's dip wasn't a solo act; it was part of a wider crypto market meltdown, complete with brutal liquidations and a nosedive in the total market cap of all cryptocurrencies.

And guess what? Hayes isn't the only one singing Bitcoin's praises. Crypto champion Michael Saylor recently doubled down on his love for BTC, proclaiming, "Nothing stops this orange," in a post that's got the whole community buzzing.

But hold on, not everyone's ready to pop the champagne just yet. Market analyst Rekt Capital is keeping a close eye on Bitcoin's short-term struggles, noting that it's testing key support around $104,400 for the second time in recent weeks.

#BTC Two weeks ago, Bitcoin downside wicked almost -4% below $104400 before ultimately Weekly Closing above said level. This week, Bitcoin is downside wicking -5% below $104400. Of course, Bitcoin could very well confirm a breakdown, but until the Weekly Close is in, it's not a done deal.

Keep your eyes peeled, because if Bitcoin doesn't close the week above $104,400, that level could flip into resistance, paving the way for more potential drops. Right now, Bitcoin's holding strong at $101,712, showing no signs of slowing down in its comeback.