Arthur Hayes, a famous American entrepreneur and co-founder of the BitMEX crypto exchange, has made another prediction following recent market volatility and a recent downturn. As he noted in a Saturday X social media platform post, he anticipates that bitcoin (BTC), the world’s leading crypto, could witness a sharp price plummet to test the $100,000 mark in the coming weeks or months.
Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC tests $100k, $ETH tests $3k. Come see my @WebX_Asia Tokyo keynote Aug 25 for more info. Back to the beach. https://t.co/zuHlwgQKC7
— Arthur Hayes (@CryptoHayes) August 2, 2025
BTC to $100,000, Here’s Why
Based on Hayes’ post, the U.S. tariff bill, which is expected to come in this quarter, could be a contributor to the market downtrend. He also mentioned a critical U.S. jobs report, the Non-Farm Payroll (NFP) report. Recent data suggests that the economy is slowing, or wage growth is cooling off.
He added that there’s no major economy in the world that is creating enough credit to boost nominal Gross Domestic Product (GDP). Currently, recognized economies around the globe, including the U.S., the EU, China, and Japan, are witnessing tight credit conditions due to a few factors, such as increased interest rates and stricter lending standards.
Notably, this could affect inflows into BTC as credit creation drives economic growth because when banks lend more to various businesses or institutional borrowers, spending and investment are usually on the rise.
In addition to speculating on bitcoin’s price, Hayes also noted that the world’s second-largest crypto, Ethereum (ETH), is prone to dropping to $3,000 soon, as the exact reasons behind BTC’s downtrend could also impact it.
Crypto Market Bleeds
Recall that the recent days in a bearish trend have caused a sharp drop in BTC’s price below $114,000. This has led to leveraged traders losing over $700 million, and pushed down the crypto market capitalization by about 4%.
The recent downtrend was attributed to the end of the business month, as investors, both institutional and individual, seized the opportunity to lock in profits. Various indicators suggested that this trend may continue into the first half of the new month, potentially leading to further pullback.
Meanwhile, at press time, the leading cryptocurrency sold for $113,700.
