Arthur Hayes said on Monday that Bitcoin has a higher change of jumping to $110,000 than it does dropping to $76,500, just moments after Bitcoin pushed past $87,000. He posted that take on X, saying:
“I bet $BTC hits $110k before it retests $76.5k. Why? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause ‘transitory inflation.’ JAYPOW told me so. I’ll expound on that in my next essay, that’s the TLDR for your TikTok peanut brain.”
The grammar in the initial tweet was a bit off, so hours later, Arthur added a comment under to clarify that:
“My grammar was a bit off. What I mean is that the price is more likely to hi $110k than $76.5k next. If we hit $110k, then it’s yachtzee time and we ain’t looking back until $250k.”
Arthur didn’t give a date, but the post came as Bitcoin surged by 3.71% to $87,480 on Monday, while Ethereum rose by 4.05% to $2,093. The global crypto market cap hit $2.84 trillion, up by 2.94% in 24 hours, per market data from CoinMarketCap.
Menawhile, XRP rose by 3%, Cardano went up by 2%, and Dogecoin surged by 3.8%, and Chainlink, Avalanche, Hedera, and Stellar all saw gains between 3% and 10%, according to the trading data.
Volume followed the price action too, as Bitcoin’s market cap went up to $1.727 trillion, its dominance climbed to 60.73%, and Bitcoin’s 24-hour volume rose by 93%, hitting $18.2 billion. Stablecoin transfers hit $57.58 billion, which is 94.74% of all crypto trading. Traders ignored concerns about President Donald Trump’s upcoming tariffs and focused instead on momentum, volume, and central bank policy.
Solana gets $72M bridge inflows as weekly users hit 17 million
While Bitcoin made headlines, Solana drew massive attention from traders and institutions. Its price jumped over 7% in 24 hours, trading above $139 on Monday. That happened as $72 million in assets moved from Ethereum to Solana, with on-chain metrics showing increased traffic. DeFiLlama data says Solana’s total value locked rose to 54.87 million SOL, the highest level since June 2022, and on-chain data shows that 11.09 million wallets now hold SOL, setting a new high.
Solana’s weekly active addresses hit 17 million, blowing past Ethereum’s 1.8 million. Exchange activity showed the same thing. Binance had SOL wallet balances on the platform increase sharply in the past week, after many days of dumping. Traders started picking up again ahead of regulatory news and ETF filings.
Volatility Shares launched two Solana futures ETFs, SOLZ and SOLT, on the Nasdaq on March 21. Just days before, Franklin Templeton and VanEck submitted applications for spot Solana ETFs, signaling broader interest from big players.
Trump’s tariff policy also helped trigger this move. On Monday, reports said that his April 2 tariffs may be more limited than feared. This lowered stress in the market. Traders who were expecting blanket import taxes saw a smaller target window, which pushed risk appetite higher across crypto. That speculation helped sustain the Monday rally.
Trump hints at tariff flexibility while Treasury yields jump
President Donald Trump spoke about his tariff plans on Monday from the Oval Office, saying, “People are coming to me and talking about tariffs, and a lot of people are asking me if they could have exceptions. And once you do that for one, you have to do that for all.” He continued, “I don’t change. But the word flexibility is an important word … sometimes it’s flexibility. So there’ll be flexibility, but basically it’s reciprocal.”
He was responding to questions about whether certain countries would get exemptions under the upcoming tariff plan. But he didn’t explain what would qualify as “reciprocal.” Traders are still waiting for clarity, which he said may not come until April 2, the date the tariffs are scheduled to start—unless that date also becomes flexible.
Yields on U.S. Treasury notes rose as this played out. The 10-year Treasury yield went up by more than three basis points to 4.282%, while the 2-year yield rose by three basis points to 3.979%. One basis point equals 0.01%, and yields move opposite to bond prices. The move suggested markets were adjusting to lower expectations of a full trade war.
At the same time, investors are waiting on economic data all week. Monday’s PMI report will show how manufacturing, services, and construction sectors are doing. The PMI reading tells traders whether the economy is growing or shrinking. A number above 50 means expansion, below 50 means contraction.
Tuesday brings new home sales data, which Wall Street will use to judge housing strength. On Thursday, traders will be watching initial jobless claims to track the labor market. But the biggest data drop comes on Friday, with the release of the personal consumption expenditures (PCE) index, which the Federal Reserve uses to gauge inflation. That will likely be a key factor for future Fed decisions on interest rates.
NOTE: This article was updated to reflect the correction made by Arthur Hayes about his grammar error.
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
