Arthur Hayes: Bitcoin Price Going to $110K, All Eyes On US PCE Data Release
Highlights
- Arthur Hayes predicts Bitcoin price will reach $110,000 expecting Fed's pivot to quantitative easing (QE) very soon.
- The Federal Reserve's upcoming release of the U.S. core PCE price index will provide insights into inflation trajectory.
- Institutional interest in Bitcoin has intensified, with spot Bitcoin ETFs recording six consecutive days of inflows.
- Metaplanet's recent purchase of 150 BTC brings its total to 3,350, achieving a 68.3% year-to-date yield.
Former BitMEX CEO Arthur Hayes said that a Bitcoin price rally to $110K is likely soon while expecting the Federal Reserve to pivot to quantitative easing soon. His comments came as BTC has been gaining strength ahead of the important inflationary data of core US PCE data release this week. Institutional interest in BTc is also surging with strong inflows into Bitcoin ETFs last week.
Bitcoin Price Rally to $110K Coming, Says Arthur Hayes
Former BitMEX CEO Arthur Hayes has confidently forecasted that Bitcoin will climb to $110,000 before revisiting its $76,500 level. Hayes attributed his bullish stand on BTC to the upcoming pivot in the Fed policy, suggesting an upcoming move from quantitative tightening (QT) to quantitative easing (QE) moving ahead.
Furthermore, Hayes downplayed the impact of Trump’s tariffs, while referring to it as “transitory inflation” as noted by Fed Chair Jerome Powell. Last week, the former BitMEX CEO also stated the chances of a Bitcoin bottom formation at $77,000 while eyeing an upward trajectory from here onwards.
As of press time, Bitcoin price is trading 3.17% up at $86,758 with daily trading volume surging 74% to $16.69 billion, highlighting a strong bullish undercurrent. As per the Coinglass data, the BTC futures open interest is also up by 7.79% to more than $56 billion, with the 24-hour short liquidations soaring past $50 million.
US PCE Data To Highlight Inflation Trajectory
This week, the Federal Reserve will unveil its most closely watched inflation measure, the U.S. core PCE price index for February. Market expectations point to a slight rebound in the index, with forecasts predicting an increase from 2.6% to 2.7%.
Along with the US PCE data, the Fed will also unveil the final one-year inflation rate forecast for March, while offering greater insights into inflationary trends. This will help shape the market sentiment for risk assets moving ahead. Below is the list of key events scheduled for this week.
Key Events This Week:
1. S&P Global Manufacturing PMI data – Monday
2. CB Consumer Confidence data – Tuesday
3. February New Home Sales data – Tuesday
4. Atlanta Fed GDPNow data – Wednesday
5. US Q4 2024 GDP data – Thursday
6. February PCE Inflation data – Friday
We are…
— The Kobeissi Letter (@KobeissiLetter) March 23, 2025
Institutional Demand for BTC Picks Up Once Again
Institutional demand for Bitcoin has been on the rise thereby pushing the Bitcoin price higher once again. Last week, the US spot Bitcoin ETFs recorded inflows for six consecutive days in a row showing strong resumption in demand.
Additionally, corporate players like Strategy (MSTR) and Metaplanet have continued with their Bitcoin purchases. In the early trading hours in Aisa on Monday, Japan’s Metaplanet announced buying an additional 150 Bitcoin, taking its total holdings to 3,350 BTC. Earlier today, the company announced an investment of $12.6 million, for an average purchase price of $83,801 per BTC.
The cumulative investment stands at approximately $278.8 million, averaging $83,224 per BTC. Notably, Metaplanet has achieved an impressive year-to-date BTC yield of 68.3%. Last week, Eric Trump joined Metaplanet’s board of advisers to take further its Bitcoin acquisition plans. Strategy’s executive chairman Michael Saylor has also hinted at more BTC purchases coming ahead.
Needs more Orange. pic.twitter.com/BRyWs1ey80
— Michael Saylor⚡️ (@saylor) March 23, 2025
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