- Experts expect a drop in Bitcoin and Ethereum prices due to the slow credit market, and weak growth of employment.
- Hayes made a profit by selling cryptocurrency worth more than 13 million dollars.
- Analysts believe double-digit price corrections are now a distant memory.
Arthur Hayes, co-founder of BitMEX, said that Bitcoin and Ethereum could both fall below $100,000. Hayes said increased tariffs and stagnant credit markets are creating a negative backdrop for cryptocurrency.
Hayes mentioned that the main trigger for the slow growth of non-farm jobs in the US. Analysts deemed the creation of only 73,000 new jobs in July 2025 as an alarming sign for the US economy. In this context, the analyst decided to make a profit by selling Ethereum and Ethena for more than $13 million.
Arkham Intelligence reports that Hayes had $28.3 millions in his wallet after the transactions. Of this, $22,95 million USDC stablecoins.
Hayes said that the slow credit growth of major economies has a negative impact on nominal GDP and is putting pressure on risky investments. Hayes said, that against this background, Bitcoin could experience a severe correction. It could fall almost 19% under current levels, if it falls to $100,000.
According to CoinGecko, Bitcoin has already fallen 7.7% since its record high of 123,000 dollars on 14 July. Ethereum has also lost 12.5% of its value after recently rising above $3,900. The recent declines in price have led to speculation that a double-digit corrective move could be coming.
Hayes is not alone in his pessimism. Eric Balchunas, a Bloomberg analyst, noted that the market became more stable after BlackRock applied for a Bitcoin ETF spot in 2023. Mitchell Askew, a Blockware Solutions representative, believes the days of Bitcoin’s parabolic growth and its devastating fall are behind us.
CryptoQuant’s analysts also reported that whales had been actively building up Bitcoin reserves. They said that the market’s 2021 peak was preceded by the opposite trend, a decline in the amount of cryptocurrency owned by major players.
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