Arthur Hayes: Bitcoin to $100K, Ethereum to $3K

Published: 2025-08-04 01:58:29 |

Arthur Hayes, CIO of Maelstrom Fund, warns that intensifying macro headwinds—renewed tariff concerns, sluggish credit growth and weak US non-farm payroll data (just 73,000 jobs added in July)—could push Bitcoin toward $100,000 and Ethereum to $3,000. He preemptively sold $8.32m of ETH, $4.62m of ENA and $0.41m of PEPE, moving his holdings into $22.95m USDC and $28.3m in other tokens. Bitcoin is off 7.7% from its $123,000 peak, while Ethereum has fallen 12.5% from $3,900. While Hayes’ outlook is bearish, some analysts expect shallower corrections than in past cycles.

Bearish

Hayes’s warning signals bearish sentiment for Bitcoin and Ethereum. In the short term, renewed tariff concerns, sluggish credit growth and weak payroll data could trigger further selling and price declines. His large-scale preemptive sell-offs suggest reduced risk appetite. In the long term, persistent macro headwinds may continue to cap upside and increase volatility, although some analysts argue that this cycle’s corrections might be shallower than past bull runs if economic indicators improve.