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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 <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow">slumped</a> 7 points over the past 24 hours, bringing it to 22 after a 12-point drop in the last week.
<img decoding="async" src="https://dixdeynibyck7.cloudfront.net/images/content/Crypto/CRY_BTC_8_L.jpg" alt="Bitcoin resumes losses under pressure from US yields">
<h2 id="span-style-font-weight-400-arthur-hayes-shorts-btc-span">Arthur Hayes Shorts BTC</h2>
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 $50K this weekend, before also revealing that he has entered a short position for the largest crypto by market cap.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> 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) <a href="https://twitter.com/CryptoHayes/status/1831866865846776035?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 6, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The prediction by <a href="https://insidebitcoins.com/news/arthur-hayes-says-crypto-crash-isnt-over-sees-second-wave-coming-as-tradfi-over-leveraged-muppets-surface" rel="noopener noreferrer nofollow">Hayes</a> comes after <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">BTC</a> fell more than 2% in the last 24 hours to trade at $55,698.20 as of 3:45 a.m. EST.&nbsp;
Data from <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a> shows that around $98 million was liquidated from the crypto market over the past day as traders prepare for the upcoming release of US Jobs data, which will be a pivotal to how much the Federal Reserve cuts interest rates.&nbsp;
<h2 id="span-style-font-weight-400-michael-van-de-poppe-more-bullish-than-arthur-hayes-sees-biggest-bull-ever-span">Michael Van De Poppe More Bullish Than Arthur Hayes, Sees “Biggest Bull Ever”</h2>
But renowned crypto trader and analyst Michael van de Poppe is more bullish on BTC than Hayes. In a Sept. 5 post on X, he told his over 724K followers that the likelihood of a potential crash is unlikely. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Surge is Close
 It’s typical. The four-year cycle is taking place just like any other cycle, but the significance of this cycle is comparable to the 1930’s of Gold or the <a href="https://t.co/GoodB359DI" rel="noopener noreferrer nofollow">https://t.co/GoodB359DI</a> bust in 2000.
 The impact of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> will be massive over the following… <a href="https://t.co/ZARsWX4qf8" rel="noopener noreferrer nofollow">pic.twitter.com/ZARsWX4qf8</a>
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1831739922535039459?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 5, 2024</a>
</blockquote>
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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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Crypto Sentiment Plummets To `Extreme Fear’ As Arthur Hayes Sees Bitcoin Plunging To $50K After US Jobs Data

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