Bitcoin may reach a new all-time high of $110,000 before any significant retracement, according to some market analysts who cite easing inflation and increasing global liquidity as key factors supporting a price rally.
Bitcoin (BTC) has been rising for two consecutive weeks, achieving a bullish weekly close just above $86,000 on March 23, TradingView data shows.
Combined with fading inflation-related concerns, this may set the stage for Bitcoin’s rally to a $110,000 all-time high, according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.
BTC/USD, 1-week chart. Source: Cointelegraph/TradingView
Hayes wrote in a March 24 X post:
“I bet $BTC hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause of “transitory inflation.” JAYPOW told me so.”
Source: Arthur Hayes
“What I mean is that the price is more likely to hit $110k than $76.5k next. If we hit $110k, then it’s yachtzee time and we ain’t looking back until $250k,” Hayes added in a follow-up X post.
Quantitative tightening (QT) is when the US Federal Reserve shrinks its balance sheet by selling bonds or letting them mature without reinvesting proceeds, while quantitative easing (QE) means that the Fed is buying bonds and pumping money into the economy to lower interest rates and encourage spending during difficult financial conditions.
Other analysts pointed out that while the Fed has slowed QT, it has not yet fully pivoted to easing.
“QT is not ‘basically over’ on April 1st. They still have $35B/mo coming off from mortgage backed securities. They just slowed QT from $60B/mo to $40B/mo,” according to Benjamin Cowen, founder and CEO of IntoTheCryptoVerse.
Related: Bitcoin may recover to $90K amid easing inflation concerns after FOMC meeting
Meanwhile, market participants await the Fed’s expected pivot to quantitative easing, which has historically been positive for Bitcoin’s price.
BTC/USD, 1-week chart, 2020–2021. Source: Cointelegraph/TradingView
The last period of QE in 2020 led to a more than 1,000% surge in Bitcoin’s price, from around…
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