Bitcoin bull and BitMEX co-founder Arthur Hayes has shared that Bitcoin’s dominance within the cryptocurrency market will proceed to rise. The BitMEX co-founder revealed in a latest tweet that he has been avoiding altcoin investments regardless of their reducing costs.
Arthur Hayes Predicts Bitcoin Dominance Increase
Arthur Hayes has taken a transparent stance on the present market scenario. He is actively including to his Bitcoin place whereas avoiding altcoin investments. Hayes additionally spoke a few potential interest rate cut within the U.S. and defined the way it might occur in one in every of his latest tweets.
In his recent tweet, the BitMEX co-founder said: “Been nibbling on $BTC all day, and shall continue. Shitcoins are getting in our strike zone but I think #bitcoin dominance keeps zooming towards 70%.”
Been nibbling on $BTC all day, and shall proceed. Shitcoins are getting in our strike zone however I believe #bitcoin dominance retains zooming in direction of 70%. So we’re not gorging on the shitcoin grocery store. Remember, cash printing is the one reply they’ve.
— Arthur Hayes (@CryptoHayes) April 7, 2025
Arthur Hayes particularly pointed to financial coverage as the driving issue behind his bullish Bitcoin outlook. He added: “So we are not gorging at the shitcoin supermarket. Remember, money printing is the only answer they have.” This remark suggests Hayes believes central financial institution insurance policies will proceed to favor Bitcoin as a hedge in opposition to inflation and forex devaluation.
The 70% dominance goal is a considerable improve from Bitcoin’s present market share. Such a shift would indicate main capital flows from altcoins again into Bitcoin.
Whale Accumulation Reaches Peak Levels
Amid Arthur Hayes’ Bitcoin prediction, on-chain analytics agency Glassnode has recognized a sample of Bitcoin accumulation among the many largest holders. According to their knowledge, Bitcoin whales holding greater than 10,000 BTC reached a virtually excellent accumulation rating of roughly 1.0 on the month’s flip. This means that there’s intense shopping for exercise over a 15-day interval.
Whales holding >10K $BTC briefly hit an ideal accumulation rating (~1.0) on the flip of the month, reflecting intense 15-day shopping for. The rating has since eased to ~0.65, nonetheless signaling regular accumulation.
Meanwhile, cohorts from <1 $BTC as much as 100 $BTC have intensified their… https://t.co/cEo3F7Paid pic.twitter.com/7udA7G8nSM— glassnode (@glassnode) April 7, 2025
While this peak accumulation rating has since moderated to round 0.65, it nonetheless reveals continued regular shopping for from these main market individuals. This degree of whale accumulation stands in stark distinction to the conduct of smaller Bitcoin holders.
Glassnode famous: “Meanwhile, cohorts from <1 $BTC up to 100 $BTC have intensified their distribution, all trending toward 0.1–0.2. A clear and widening divergence between small and large holders.”
This distinction in conduct between massive and small holders usually precedes main market actions. Historically, intervals the place whales accumulate whereas retail sells have preceded bullish phases within the Bitcoin market cycle.
Bitcoin Establishes assist at $74,000
Bitcoin price seems to have established a assist degree round $74,000, in response to knowledge shared by Glassnode. Their evaluation comes at a time when Bitcoin and altcoins have misplaced double-digit worth within the final 24 hours.
The knowledge reveals this worth level aligns with “the first major supply cluster below $80K – over 50K $BTC at $74.2K.” This provide zone is primarily composed of buyers who had been energetic out there for roughly 5 months.
The power of this assist degree shall be vital for Bitcoin’s short-term worth motion as the market strikes by means of its present volatility. If this assist holds, it might be a basis for a possible restoration towards earlier highs.
OKX associate Ted has highlighted a key technical degree that might determine Bitcoin’s subsequent directional transfer. “BTC is trying to reclaim the weekly 50-EMA level. This has acted as a bull/bear line for BTC,” Ted famous on X.
$BTC is making an attempt to reclaim the weekly 50-EMA degree.
This has acted as a bull/bear line for BTC.
If BTC fails to reclaim it, count on a correction in direction of $69K-$70K (2021 highs), and even the $67K (Saylor common entry) degree might be retested.
In case BTC reclaims this degree, a… pic.twitter.com/CtsyZ7q3FH
— Ted (@TedPillows) April 7, 2025
According to his evaluation, failure to reclaim this transferring common might set off additional draw back. He talked about potential correction targets at “$69K-$70K (2021 highs) and even the $67K (Saylor average entry) level.” Conversely, efficiently reclaiming the 50-EMA might spark a “relief rally.”
Ted’s evaluation additionally comes at a time when the crypto liquidations breached $600 million and Bitcoin fell under the vital $80,000 degree.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with practically 7 years of expertise within the cryptocurrency business. He has contributed to quite a few publications, together with WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The introduced content material might embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.
