Bitcoin will 'explode' past $90,000 on way back to $126,000, Arthur Hayes says

What to know:

Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, argues that bitcoin bottomed near $60,000 earlier this year and is now on track to surpass its prior high and reach $126,000.

He says a break above $90,000 could trigger an “explosive” rally as call-option sellers are forced to buy bitcoin, and he ties the broader bull case to inflationary spending on AI infrastructure and war-related costs.

Hayes discloses Maelstrom positions in HYPE and ZEC and a growing bet on NEAR, while warning that an overhyped AI IPO or a successful anti-AI political platform in the U.S. could end the crypto rally.#bitcoin #BinanceOnline