BitMEX co-founder Arthur Hayes has stated that most altcoins will depreciate, while Bitcoin will rise to $125,000 by the end of the year. He shared this view at the Consensus Miami conference.
Hayes described the impending token crash as a healthy market cleansing, comparing it to the historical rotation of companies in the S&P 500 index since 1929. He believes the altcoin ecosystem will survive.
The entrepreneur attributes the growth of the leading cryptocurrency solely to global liquidity, rather than new regulations. In his view, the adoption of the CLARITY Act will not impact the market as significantly as central bank monetary issuance.
“For Bitcoin to reach $125,000, only one catalyst is needed — money printing. It’s simple,” Hayes explained.
He considers the leading cryptocurrency a hybrid of a tech stock and pure liquidity. Hayes expects the Federal Reserve and the US Treasury to continue injecting capital into the economy through bond purchases. This flow of money will push prices upward and offset any negative factors.
Analyst’s Opinion
An expert under the pseudonym Darkfost noted Bitcoin’s dominance rising above 61.3% as it surpassed the $81,000 mark. According to him, this indicates a continued concentration of capital in the leading cryptocurrency.
BTC Breaks 81K as Dominance Rises, but Altcoins Show Early Stabilization
“Trading volumes for altcoins on Binance are also showing signs of gradual recovery. Their share relative to the combined BTC and ETH volumes on Binance has increased from 31% to 49%.” – By @Darkfost_Coc pic.twitter.com/C56oeBEQuR
— CryptoQuant.com (@cryptoquant_com) May 6, 2026
Despite the pressure, Darkfost sees signs of stabilization in the altcoin market. About 12% of assets on Binance have returned to the level of the 200-day moving average, although this figure was only 2.3% at the beginning of February.
The expert also noted an increase in altcoin trading volumes. Their share relative to Bitcoin and Ethereum has risen from 31% to 49% over two months. Darkfost views this as a signal of returning investor interest, which could precede a phase of capital rotation.
From April 27 to May 1, inflows into crypto funds fell to $117.8 million amid outflows from Ethereum.