TLDR
- Arthur Hayes stated that Bitcoin is on sale after it dropped to a four-month low.
- He urged market participants to buy if the current banking issues turn into a broader crisis.
- Hayes shared that he already has a list of coins he plans to purchase during this downturn.
- Bitcoin fell below $104,000 following concerns over U.S. regional banks and increased market selling.
- Miners and whales have moved over 51,000 BTC to exchanges, indicating plans to sell.
Bitcoin extended its downward trend this week, hitting a four-month low amid broad weakness in the crypto market and rising macroeconomic concerns. Arthur Hayes, BitMEX co-founder, responded by calling Bitcoin’s dip a prime buying opportunity. He advised the public to consider buying if the U.S. banking situation escalates into a broader crisis.
Bitcoin Drops as Market Reacts to Banking Woes
Bitcoin fell below $104,000 earlier today, posting a nearly 3% daily drop as reported by TradingView data. The dip followed increased market panic triggered by reported troubles at Zions Bank and Western Alliance Bank. Selling pressure intensified as panic spread from traditional markets to cryptocurrencies.
$BTC on sale. If this US regional banking wobble grows to a crisis be ready for a 2023-like bailout. And then go shopping assuming you have spare capital. I got my list, what’s on yours fam? pic.twitter.com/TbuQQI3njN
— Arthur Hayes (@CryptoHayes) October 17, 2025
Arthur Hayes emphasized that this price correction signals an opportunity rather than a crisis. He posted on X, stating, “BTC is on sale,” and encouraged his followers to consider making a purchase. Hayes noted that a rebound similar to 2023 is likely if bailouts happen again.
The crypto market remains under pressure as traders price in further risk from financial institutions. Hayes expressed readiness, sharing that he already has a list of coins he plans to buy. His confidence contrasts with the broader market’s hesitation.
Arthur Hayes Comments Amid Miner and Whale Selling
Data shows over 51,000 BTC moved from miners to exchanges last week, likely for sale, creating additional downward pressure.
Despite the panic, Arthur Hayes remains bullish, viewing the situation as temporary and strategic. He believes that potential bank bailouts will prompt capital to return to crypto markets. Hayes wrote that participants should consider “shopping” if this financial instability worsens.
ETF activity also reflects bearish sentiment, with outflows of over $536 million recorded on the same day. This marks the fourth daily outflow in five days, signaling cautious sentiment from institutional investors. Still, Hayes sees this environment as ideal for accumulation.
Market Voices Differ on Bitcoin’s Future
While Arthur Hayes stays optimistic, other financial voices express skepticism about Bitcoin’s strength. Economist Peter Schiff claimed that Bitcoin has lost 34% of its value against gold since its peak. He argued the bear market is far from over and said Bitcoin is failing as “digital gold.”
Schiff criticized Bitcoin holders, urging them to sell now to avoid further losses. He described the current phase as the beginning of a brutal decline. His remarks stand in direct contrast to Arthur Hayes’ bullish stance.
Entrepreneur Anthony Pompliano defended Bitcoin, citing its performance since 2020. He highlighted its 15,000% gain and suggested Bitcoin is a reliable long-term store of value. Pompliano pointed out that when denominated in BTC, most assets are down.
Arthur Hayes remains one of the few crypto leaders urging confidence amid the ongoing decline. His perspective adds weight in a market defined by uncertainty and fear. Whether the rebound comes soon or not, Hayes’ tenth-time reassurance is clear—he believes “BTC is on sale.”
