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Key Takeaways:
- Bitcoin trades at $109,500 with volume and futures interest showing bullish momentum.
- Peter Brandt forecasts a BTC breakout to $140K, aligning with global liquidity growth.
- Arthur Hayes warns of a potential drop to $90K due to tightening USD liquidity and Fed risk.
Bitcoin [BTC] surged 2.43% to reach $109,500 as bullish sentiment returns to the crypto market. Veteran trader Peter Brandt sees a breakout to $140,000, citing strong momentum and chart patterns. However, Arthur Hayes offers a contrarian view, warning of a possible price crash ahead of the Jackson Hole symposium. With key CPI data and the FOMC meeting looming, volatility is expected to spike.
Peter Brandt Forecasts Bitcoin Breakout to $140K
Veteran chartist Peter Brandt has reignited bullish hopes after hinting at a potential Bitcoin rally to $140,000. In a cryptic post on X, Brandt shared an inverted BTC/USD chart, sarcastically asking if a visible bear flag might actually be a bullish setup in disguise. His analysis aligns with Bitcoin tracking the Global M2 money supply, which hit an all-time high of $55.48 trillion.
Brandt’s charts suggest BTC’s next stop is $140K, following a breakout from its consolidation zone. Supporting this view, Bitcoin’s daily trading volume jumped 20% to $56 billion, while BTC futures open interest rose 7.28%, indicating renewed trader confidence.
Arthur Hayes Predicts BTC Crash to $90K Ahead of Jackson Hole
Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, has taken a bearish stance heading into August’s Jackson Hole Fed symposium. In his latest outlook, Hayes warned that liquidity issues from the Treasury General Account (TGA) could suppress Bitcoin’s price.
Hayes expects BTC to trend sideways or slightly lower, potentially falling to the $90,000–$95,000 range. As a precaution, Maelstrom has liquidated illiquid altcoins and may reduce BTC exposure further if macroeconomic conditions worsen.
CPI Data and FOMC Meeting to Drive Short-Term Volatility
Investors are closely watching this week’s U.S. Consumer Price Index (CPI) data and the July FOMC meeting. A favorable inflation print could lower real yields, pushing liquidity into non-yielding assets like Bitcoin and fueling a breakout past resistance.
Also Read: Elon Musk Allegedly Stacking Bitcoin — XRP Lawyer Says It’s Time to Buy
If the Fed signals even a mild pause in quantitative tightening or confirms future rate cuts, sidelined capital could flow rapidly into crypto. On the other hand, any hawkish stance may trigger a temporary dip, though it’s expected to be shallow if future dovishness is hinted at.
Despite strong bullish signals from Peter Brandt and macro tailwinds, Arthur Hayes’ liquidity concerns act as a caution flag. Market volatility is set to intensify as CPI data and the Fed’s policy decision approach.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
