Crypto Sentiment Plummets To `Extreme Fear’ As Arthur Hayes Sees Bitcoin Plunging To $50K After US Jobs Data

Crypto
investor
sentiment
has
plunged
to
“Extreme
Fear”
as
BitMEX
co-founder
Arthur
Hayes
predicts
Bitcoin
will
drop
below
$50K
this
weekend
following
the
release
of
US
jobs
data
today.

The
Crypto
Fear
And
Greed
Index


slumped

7
points
over
the
past
24
hours,
bringing
it
to
22
after
a
12-point
drop
in
the
last
week.

Arthur
Hayes
Shorts
BTC

In
a
Sept.
6
post
on
X,
Hayes
told
his
534.2K
followers
that
“BTC
is
heavy.”
He
added
that
he
is
“gunning”
for
a
drop
in
Bitcoin’s
price
below
$50K
this
weekend,
before
also
revealing
that
he
has
entered
a
short
position
for
the
largest
crypto
by
market
cap. 

$BTC
is
heavy,
I’m
gunning
for
sub
$50k
this
weekend.
I
took
a
cheeky
short.
Pray
for
my
soul,
for
I
am
a
degen.

—
Arthur
Hayes
(@CryptoHayes)

September
6,
2024

The
prediction
by


Hayes

comes
after


BTC

fell
more
than
2%
in
the
last
24
hours
to
trade
at
$55,698.20
as
of
3:45
a.m.
EST. 

Data
from


CoinGlass

shows
that
around
$98
million
was
liquidated
from
the
crypto
market
over
the
past
day
as
traders
prepare
for
the
upcoming
release
of
US
Jobs
data,
which
will
be
a
pivotal
to
how
much
the
Federal
Reserve
cuts
interest
rates. 

Michael
Van
De
Poppe
More
Bullish
Than
Arthur
Hayes,
Sees
“Biggest
Bull
Ever”

But
renowned
crypto
trader
and
analyst
Michael
van
de
Poppe
is
more
bullish
on
BTC
than
Hayes.
In
a
Sept.
5
post
on
X,
he
told
his
over
724K
followers
that
the
likelihood
of
a
potential
crash
is
unlikely.

The

#Bitcoin
Surge
is
Close

It’s
typical.
The
four-year
cycle
is
taking
place
just
like
any
other
cycle,
but
the
significance
of
this
cycle
is
comparable
to
the
1930’s
of
Gold
or
the

https://t.co/GoodB359DI
bust
in
2000.

The
impact
of

$BTC
will
be
massive
over
the
following…

pic.twitter.com/ZARsWX4qf8

—
Michaël
van
de
Poppe
(@CryptoMichNL)

September
5,
2024

Instead,
he
believes
the
“markets
are
preparing
for
the
biggest
bull
ever.”
He
added
that
this
could
be
the
“final”
bull
market
before
a
“big”
economic
crisis
happens.

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