Bitcoin started the week on a strong note, surging over 3% to nearly $88,000. According to former BitMEX CEO Arthur Hayes, this might be the last chance to buy BTC under $100,000.
Bitcoin (BTC) surged over 3% to reach $87,705 following the April 20 weekly close, marking its highest level in nearly three weeks. While some dismissed the move as just another low-volume Sunday pump, Arthur Hayes said it might mark the last chance to buy BTC under $100,000.
Supporting Hayes’ optimism, economist Timothy Peterson recently projected that BTC could reach $138,000 within three months, citing historical price behavior following spikes in high-yield bond rates. His analysis shows that in similar macro conditions, Bitcoin has posted a median 31% gain over the following quarter, with upside scenarios showing much more.
Adding to the bullish sentiment, gold is trading near a record $3,400 per ounce, up nearly 30% year-to-date. This time, BTC seems to be following gold’s lead, signaling a possible return to its “digital gold” narrative after a long period of divergence.
Federal Reserve uncertainty is also growing. Eight Fed officials are expected to speak this week amid rising political pressure and Trump’s public call to fire Jerome Powell. While the Fed’s next move remains unclear, markets are increasingly pricing in a potential rate cut by June — a shift that could further weaken the dollar and boost risk assets like Bitcoin.
That said, a major pullback may still be on the cards before any major rally. Analyst Michaël van de Poppe said that while Bitcoin pushing past $87,000 is promising, weekend moves can be misleading.
“I assume that we’ll likely correct back before we’re finally breaking through. If the breakthrough happens, an ATH is on the horizon,” he wrote in a post on X.
According to CryptoQuant, the key technical battleground is currently at $91,000 mark. Until BTC firmly clears that $91K threshold, short-term holders — especially those who bought in the last six months — remain underwater, potentially fueling sell pressure.
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