# Bitcoin Poised for $110K Before Revisiting $76.5K, Says Arthur Hayes
Former BitMEX CEO Arthur Hayes believes Bitcoin is more likely to reach $110,000 before revisiting the $76,500 level. He bases this prediction on several macroeconomic factors and their potential impact on risk assets, including Bitcoin.
## Macroeconomic Factors Driving Bitcoin’s Price
Hayes points to the current macroeconomic landscape, characterized by central banks globally tightening monetary policy to combat inflation. He argues that if inflation remains persistent, central banks might be forced to pivot and ease monetary policy sooner than anticipated. This pivot, involving interest rate cuts and potentially further quantitative easing, would inject liquidity into the market, benefiting risk assets like Bitcoin.
## The $110,000 Target and Potential Pullback
Hayes suggests that this influx of liquidity could propel Bitcoin to $110,000. However, he also acknowledges the possibility of a temporary pullback to around $76,500 before this surge. This pullback could be triggered by a short-term strengthening of the US dollar as investors seek safe havens amid market uncertainty.
## Long-Term Outlook Remains Bullish
Despite the potential for short-term volatility, Hayes remains bullish on Bitcoin’s long-term prospects. He anticipates that once the $110,000 level is breached, the cryptocurrency will continue its upward trajectory, potentially reaching significantly higher price points. He emphasizes the importance of Bitcoin’s decentralized nature and its potential as a hedge against inflation in a world of increasing economic uncertainty. This, he believes, will continue to drive demand and ultimately push the price higher.
