Source: Companiesmarketcap Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam BackBitcoin exchange deposits have also seen a “meaningful decline,” which suggests “reduced selling pressure and an uptick in conviction-driven custody behavior,” analysts from Bitfinex exchange told Cointelegraph, adding:“The divergence between price stability and shrinking exchange balances is critical, especially in a week following a $7.2 billion options expiry and heightened macro volatility.”“In the past, similar patterns have preceded upside continuation, as reduced supply meets sustained ETF and institutional bid,” they said.
BitMEX co-founder Arthur Hayes said Bitcoin could hit $1 million by 2028, attributing the potential surge to aggressive monetary policy and rising institutional interest.“It’s time to go long everything,” said Hayes in a keynote speech at Token2049 in Dubai.“Don’t worry, Bitcoin is going to $1 million by 2028,” he said, attributing the upcoming rally to more “money printing” from the US Treasury.
ARK Invest CEO Cathie Wood said the odds of Bitcoin surpassing $1.5 million by 2030 have increased due to what she called the “institutionalization” of the asset.“Many institutional investors are now looking at Bitcoin and thinking they need to add it to their asset allocation because its return and risk profile looks so much different than all the other assets in their portfolios,” Wood added.
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Author / Journalist: Cointelegraph by Zoltan Vardai
The story "Bitcoin volatility lowest in 563 days, Hayes predicts $1M BTC by 2028" has 509 words across 18 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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