Former Bitmex Chief Predicts 30% BTC Correction — Warns Spot Bitcoin ETFs Could Make It Worse

Former Bitmex CEO Arthur Hayes is warning of a potential 30% correction in the bitcoin market. However, he believes that if spot bitcoin exchange-traded funds (ETFs) have already begun trading, the correction could be even more severe. Hayes predicts that bitcoin could experience a healthy 20% to 30% correction by early March, and the introduction of spot bitcoin ETFs could trigger a dollar liquidity rug pull, leading to a 30% to 40% correction. Hayes also highlighted other factors, such as the Fed’s Reverse Repurchase Operations, the cash needs of broke banks, and the possibility of a Fed rate cut, which could further impact the market. He shared that his own crypto portfolio consists of mostly bitcoin and ether, making up approximately 70% of his holdings. Hayes expects the market to start correcting significantly around March 12th if his predictions are correct.