Bearish Arthur Hayes says Bitcoin could retrace to $100K on macro headwinds

Bitcoin and Ether could fall back toward the $100,000 and $3,000 level amid concerns of more tariffs, a sluggish credit market and slowed job creation, Arthur Hayes argues.

Maelstrom Fund chief investment officer Arthur Hayes has warned that mounting macroeconomic pressures could drag Bitcoin back down to the $100,000 level — and he's already taken crypto profits in anticipation.

Hayes linked the recent crypto pullback to renewed tariff fears sparked by the disappointing Non-Farm Payrolls report, which showed just 73,000 new jobs added in the US in July — a sign of economic fragility.

Hayes also pointed to sluggish credit growth in major economies stunting nominal gross domestic product growth in warning that Bitcoin (BTC) and Ether (ETH) could fall further toward the $100,000 and $3,000 levels.

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