Former BitMEX CEO Arthur Hayes has predicted that Bitcoin dominance could reach 70%, citing global tariffs imposed by the Trump administration as a potential catalyst for BTC’s price surge. Hayes believes that quantitative easing (QE) will be the only solution to the current economic crisis, which could drive Bitcoin’s value higher.
Hayes has been actively accumulating Bitcoin, stating that altcoins are in decline while BTC remains resilient. His stance aligns with broader market trends, as Bitcoin has outperformed most altcoins in recent weeks. Hayes argues that central banks will continue printing money, making Bitcoin an attractive hedge against inflation.
On-Chain Data Insights
On-chain data supports Hayes’ claim, showing that Bitcoin whales holding over 10,000 BTC have been accumulating aggressively. Meanwhile, smaller holders are selling, indicating a widening divergence between retail and institutional investors4.
Glassnode data reveals that whales briefly hit a perfect accumulation score (~1.0) earlier this month, reflecting intense buying activity over a 15-day period. This score has since eased to 0.65, but still signals steady accumulation.
Despite recent volatility, Bitcoin has found support at $74,000, with analysts predicting a slow decline between $74,000 and $70,000 due to strong accumulation in this range. Large investors continue to buy at these levels, reinforcing the idea that Bitcoin’s price could stabilize before another upward move.
Shogun Lin
