Bitcoin (BTC) Price Prediction: Will It Come Close to the US $50k Floor Following a Strong Start to the Week?

It was a bloodbath on Wall St and the ASX over the weekend, as futures markets predicted heavy drops among most major indices. This ended up ringing true, with the Nasdaq falling nearly 3%, the ASX dropping 1% and the S&P 500 falling 2%.

Futures markets predicted major drops among most major indices on Friday, and this ended up ringing true.

The Nasdaq fell nearly 3%, the ASX dropped 1% and the S&P 500 fell 2%.

Poor US job figures, Bitcoin’s poor month and the crypto market’s close link to macroeconomic factors all pointed toward a gloomy Monday for BTC.

But the crypto market showed resilience after being battered this week, with BTC climbing 1.4% over the past 24 hours.

And according to analyst and founder of BitMEX, Arthur Hayes, this turnaround might just be the beginning.

Hayes expressed skepticism of the US economic policy last month, predicting medium-term pain for the nation in spite of cash rate cuts. He also mentioned that Bitcoin would likely feel the pinch after a short-term “sugar high”.

Doubling down on his thoughts, Hayes announced he’d launch into a “cheeky short”, believing BTC would fall below US $50k (AU $75k).

Hayes’ worst-case scenario never eventuated, however, and he closed his short position, even suggesting that a price spike could be coming as soon as this week.

Closed my $BTC short, made 3% profit, enough to cover my food and bar tab for KBW. With Bad Gurl Yellen watching mrkts and releasing a weekend statement, if stuff continues to puke next week $BTC *MIGHT* rise anticipating more $ liq.

For those out of the crypto lingo loop, Hayes is implying that US Treasurer Janet Yellen’s positive economic outlook has softened the blow of investor sentiment turning sour throughout September.

Bad Gurl Yellen is watching, if markets go down more she will definitely pump up the jam by printing more money. pic.twitter.com/L81vc07as9

Liquidity has often been a great macroeconomic indicator for Bitcoin, and the lowering of US cash rates in the next ten days could play a big role in BTC moving back toward US $60k (AU $90k).

Although September has been a rough month for crypto so far, this is not abnormal – and if macroeconomic fundamentals continue to settle, 2025 could shape up as a huge year for the digital currency markets.

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