Bitcoin (BTC) Could Surge to $70K After Traditional Markets Crash, Says BitMEX Co-founder Arthur Hayes

His prediction follows Bitcoin's four-month low of $76.8K on March 11th, marking a 36% correction from its $110K all-time high.

According to BitMEX co-founder Arthur Hayes, the next logical stop for Bitcoin (BTC) on its "rollercoaster ride" could be $70K.

This prediction comes as Bitcoin falls to a four-month low of $76.8K on March 11th, marking a 36% correction from its all-time high of $110K.

However, Hayes' thesis isn't based on short-term price action; rather, he's looking at the bigger institutional picture and how it could impact Bitcoin's trajectory in the long run.

He believes that the S&P 500 ($SPX) and Nasdaq ($NDX) will have to take a serious dive before institutions begin engaging in quantitative easing (QE) — the economic lifeline that floods the system with liquidity.

This move will ultimately put a floor on the U.S. equity markets, setting the stage for a final rally in the second half of 2024.

"Once the institutions have had enough of losing money in the $SPX and $NDX, they will put a floor on the U.S. equity markets and begin the final rally in the second half of 2024," said Hayes.

As more money enters the system, asset prices will rise, and that's when Bitcoin could see its next surge.

This outlook is supported by the fact that Bitcoin's Relative Strength Index (RSI) is at its lowest since August 2024, which is often a sign of a trend reversal.

On top of that, Bitcoin's market cap is mirroring past pre-rally cooldowns, suggesting that the current dip could be setting up the next major move.

If Hayes is right, then Bitcoin's short-term pain could be long-term gain. A final dip to $70K may be the last stop before renewed institutional demand sends BTC to new highs. The question is—are we at the bottom, or is one more shakeout coming?

The U.S. Dollar Index ($DXY) recently saw one of its largest weekly declines, further reinforcing Hayes' outlook. A weaker dollar usually precedes capital rotation into Bitcoin, making this a strong signal for a potential $BTC reversal.

Coinbase is returning to India following regulatory issues that forced it to withdraw from the market in 2023.

Recognized for its dynamic crypto and on-chain innovation landscape, India is seen as a crucial market for Coinbase's growth. The company plans to launch retail services in the country later this year, with further expansion and product development to follow.

According to Chainalysis, India has the world’s highest rate of grassroots crypto adoption. This, coupled with Coinbase’s return, could see some bullish prospects for the industry.

Here are three of the best altcoins that could benefit from these updates.

BTC Bull Token ($BTCBULL) is tied to $BTC. Its performance is linked to the varying phases of the project.

Holders can earn passive $BTC rewards when Bitcoin reaches key project milestones — who wouldn’t want to be paid to do nothing?

Furthermore, the developers are planning token burns at specific intervals to promote token scarcity and raise its value.

Capitalizing on industry terminology (bull market/bullish), investors have a clear idea of what to expect.

Recent White House actions, including the Strategic Bitcoin Reserve and the Digital Asset Stockpile that specifically mention Bitcoin, will undoubtedly increase activity for $BTC and $BTCBULL.

A volatile market can be daunting to new investors who want to mitigate as much risk as they can, but Meme Index ($MEMEX) has a solution to this and something for those who love to dive in both feet first.

$MEMEX brings four different indexes with different degrees of risk (based on volatility) and reward. In ascending risk order:

* MEMEX DeFi Index is the riskiest and tracks a basket of leading DeFi tokens.

* MEMEX Web3 Index follows a portfolio of Web3 projects.

* MEMEX Large Cap Index benchmarks the performance of major cryptocurrencies.

* MEMEX Small Cap Index provides exposure to a diverse group of smaller-cap tokens.

Those seeking less risk and prefer a snapshot of the broader market might find the Large Cap Index more appealing, while those comfortable with greater volatility and prefer targeted exposure could opt for the DeFi or Web3 indexes.

Arguably one of the cutest meme coins around, Pudgy Penguins is all about positivity, proliferating the penguin meme culture and good vibes.

Currently selling at $0.0059967, it has a market cap of $377.21M at the time of writing.

Although experiencing a price dip recently, worldwide crypto news like the formation of the Strategic Bitcoin Reserve and the reintroduction of Coinbase back into India, twinned with the overwhelming community support on their