Arthur Hayes said he believes the local bottom in Bitcoin has passed and reaffirmed a price target of $250 000 by year end.

Hayes, co‑founder and former CEO of BitMEX, issued the comment during public remarks, reiterating his outlook for Bitcoin’s medium‑term trajectory.

Background

The forecast joins a series of bullish estimates from market participants who cite supply dynamics and institutional demand as supporting factors.

Hayes’ target remains one of the more ambitious projections and matches previous public statements he made earlier this year still.

He frames the call as contingent on continued macro stability, capital inflows and a constructive adoption environment across markets and institutions.

Market reaction

Independent analysts note that price targets are speculative predictions reflecting trader sentiment, and they stress that outcomes often diverge from forecasts.

Bitcoin’s near‑term path will depend on liquidity conditions, regulatory developments and macroeconomic indicators that can alter investor risk appetite rapidly.

Market participants may treat Hayes’ target as one scenario among many when structuring portfolios and hedging exposure to cryptocurrency volatility.

Implications

A $250 000 outcome by year end would represent a multiple of several times current price levels, depending on the starting reference point.

Such a move would also have implications for derivatives markets, custody providers and infrastructure that supports institutional allocations and client servicing.

Observers recommend monitoring realized volatility, order book depth and macro indicators as practical inputs for evaluating the probability of extreme price scenarios.

Hayes’ assertion and target will remain part of market discourse through the remainder of the year, informing debate among investors and analysts.