Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
- Arthur Hayes said he rarely uses technical indicators when investing in <a href="https://xpertsstudio.com/bitcoin-falls-below-77000-as-oil-prices-surge/” title=”Bitcoin Falls Below $77,000 as Oil Prices Surge”>Bitcoin (BTC).
- He said Bitcoin is tracking moves in U.S. stocks and broader market sentiment as macro signals.
- He said if U.S. stocks tumble sharply, Bitcoin could be among the first assets sold as margin calls hit.
Forecast Trend Report by Period
BitMEX co-founder Arthur Hayes said he rarely uses technical indicators when investing in Bitcoin.
Instead, he bases his decisions more on macro signals, including moves in U.S. stocks and broader market sentiment.
Wu Blockchain reported on September 12 that Hayes said in an interview last month he does “almost no technical analysis” on Bitcoin. He added that he primarily looks at broader market conditions because Bitcoin is currently tracking U.S. equities closely.
Hayes also said Bitcoin would be hard-pressed to avoid selling pressure if U.S. stocks were to tumble sharply. If equities collapse, margin calls would hit investors holding similar assets with leverage. In that case, investors would sell the easiest assets to liquidate first, and Bitcoin could be among the first to be sold.
Source: en.bloomingbit.io