TLDR
- Arthur Hayes expects Bitcoin to move above $90,000 as the current bull market gains strength.
- He links his $126,000 Bitcoin target to money supply growth and wider market liquidity trends.
- Hayes says AI infrastructure spending could push more capital toward Bitcoin and other risk assets.
- Maelstrom has chosen altcoin exposure, including HYPE, ZE, and NEAR, to capture upside during rallies.
- Hayes still warns Bitcoin may revisit the $80,000 to $90,000 zone before another rally phase.
Arthur Hayes has renewed his Bitcoin price forecast as the crypto market trades near key levels. The BitMEX co-founder expects Bitcoin to move above $90,000 and later target $126,000. He links the call to money supply growth, AI spending, and rising liquidity.
Hayes Sees Bitcoin Breaking Above $90,000
Hayes says Bitcoin’s current range can support a new move higher. The report places the range between $80,793 and $89,368. He treats that zone as a base, not a limit.
He expects Bitcoin to “explode” past $90,000 during the current bull market. He has also called the $126,000 target “a foregone conclusion”. However, the forecast depends on liquidity trends and market demand.
The price call comes as traders watch Federal Reserve policy and profit-taking. Hayes says Bitcoin could still revisit the $80,000 to $90,000 area. That move would not change his wider bull market case.
His forecast also points to October 2025 as a key target period. Hayes sees Bitcoin gaining from stronger demand and looser money conditions. He expects buyers to return as liquidity grows.
Money Supply and AI Spending Shape the Forecast
Hayes points to US money supply growth as the main factor behind his Bitcoin outlook. He cited a $9 trillion expansion as a possible source of market liquidity. In his view, more money in the system can support risk assets.
He also links the Bitcoin forecast to AI infrastructure spending. Large data centers and related projects require major capital. Hayes expects that spending to support liquidity across markets.
The forecast also refers to wartime financing as another possible driver. The report mentions funding needs after a possible US-Iran conflict scenario. Hayes expects these forces to align around February 28, 2026.
Bitcoin often reacts to changes in liquidity and rate expectations. Traders watch central bank actions because they affect risk appetite. Hayes says those conditions may help Bitcoin extend its bull market run.
Maelstrom Takes Risk Through Altcoin Exposure
Hayes leads Maelstrom, and the fund reflects his wider market stance. The report says Maelstrom holds exposure to HYPE, ZE, and NEAR. These altcoins can rise faster than Bitcoin during strong market rallies.
However, altcoins also carry higher downside risk. They often fall harder when Bitcoin weakens or traders reduce risk. For that reason, Maelstrom’s stance shows a more aggressive market approach.
Hayes has also set a longer Bitcoin price path. He sees $200,000 to $250,000 by the end of 2026. He has discussed $1 million only as a possible outcome under heavy US money printing.
The forecast places Bitcoin above $90,000 at the center of his near-term thesis. It also connects crypto prices with liquidity, AI spending, and policy choices. Traders will now watch whether Bitcoin can break its current range.
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