Bitcoin Sees 6% Drop as Predictions of $250K Surge Emerge Amid AI-Fueled Market Volatility

Bitcoin dropped by nearly 6% over the past 24 hours, briefly falling below $98,000. Despite this downturn, Arthur Hayes, co-founder of BitMEX, remains optimistic about Bitcoin's long-term potential.

Hayes predicts a correction to between $70,000 and $75,000, citing a 'mini financial crisis' and renewed monetary stimulus as factors that will propel the price to $250,000 by year-end. He stated, 'I am calling for a $70k to $75k correction in $BTC, a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year.'

The recent drop is linked to a broader market sell-off spurred by the rise of DeepSeek, a China-based AI app. This development has sparked concern among investors, leading to a 'risk-off' approach.