TLDR
- Bitcoin fell over 17% in ten days, slipping below $104,000 after record highs.
- Arthur Hayes called the Bitcoin drop a buying chance amid banking worries.
- Andrew Tate predicted Bitcoin could crash to $26,000 before recovery.
- ETF outflows hit $536M in a day, showing caution among major investors.
Bitcoin’s sharp fall below $104,000 has divided market sentiment, with prominent voices offering opposing forecasts. BitMEX co-founder Arthur Hayes urged investors to view the drop as a buying chance, while influencer Andrew Tate predicted a deeper collapse. Their contrasting views come as renewed banking concerns and heavy outflows from Bitcoin exchange-traded funds stir fresh unease in the digital asset market.
Market Faces Growing Pressure
Bitcoin fell more than 17% in ten days after reaching an all-time high of $126,198 on October 7, according to Coingecko data. The decline followed reports of financial strain at Zions Bank and Western Alliance Bank, which triggered fears of broader instability within the U.S. regional banking system.
ETF data showed four red sessions out of five, with nearly $536 million in daily outflows. Analysts noted that over 51,000 BTC moved from miners to exchanges last week, suggesting possible liquidation. These developments point to growing caution among institutional investors as selling pressure persists.
Economist Peter Schiff commented that Bitcoin had lost more than 30% of its value against gold since the recent peak. “The idea of Bitcoin as digital gold has failed,” Schiff said, calling this period “the beginning of a brutal decline.”
Arthur Hayes Sees Buying Opportunity
Arthur Hayes, co-founder of BitMEX, urged investors not to panic. Writing on X, he said, “BTC is on sale.” Hayes argued that if banking stress deepens, the U.S. government could again step in with bailouts similar to those seen in 2023.
“Be ready for a 2023-like bailout,” he wrote, adding that a fresh wave of monetary easing could support digital assets. Hayes believes renewed financial instability could push more investors toward Bitcoin and other cryptocurrencies as alternative stores of value.
He also suggested that if the situation escalates, digital assets may experience a rebound stronger than the one seen after the 2023 crisis. Hayes’ comments have been interpreted by traders as a signal to accumulate during weakness rather than sell into fear.
Andrew Tate Warns of a Deeper Fall
In contrast, Andrew Tate warned his followers that Bitcoin could fall to $26,000 before a real recovery begins. He compared this potential level to the September 2023 lows, claiming that “blind optimism” is preventing the market from finding a true bottom.
Tate said, “Everything can always get worse. The price can always go lower.” His message, shared with millions of followers, suggested that traders’ emotional reactions often delay natural market correction. He argued that the market would only recover once “everybody has lost all their money,” signaling the end of excess optimism.
Despite facing legal challenges in Romania, Tate continues to influence online financial discussions, promoting what he describes as self-reliance and wealth-focused discipline. His bearish prediction has gained attention among retail traders who see him as a contrarian voice against mainstream bullish sentiment.
Uncertain Outlook for Bitcoin
The sharp divergence between Hayes and Tate reflects a broader split in investor psychology. Optimists view the drop as a healthy correction after a strong rally, while pessimists warn of deeper losses if macroeconomic risks persist.
With U.S.–China trade tensions and financial sector strain adding to volatility, Bitcoin’s next move remains unpredictable. Institutional caution and retail speculation continue to shape a market driven by both fear and opportunity, leaving investors divided on whether the current dip is a chance to buy—or a warning to wait.
