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Arthur Hayes warned that 99% of altcoins could disappear. This strengthens the outlook that the cryptocurrency market's next bull run may not save all tokens but instead be a period of massive consolidation.
According to cryptocurrency media outlet U.Today on May 5 (local time), BitMEX co-founder Arthur Hayes warned at Consensus Miami 2026 that the majority of altcoins are destined to fail, while predicting that Bitcoin (BTC) could reach $125,000 by the end of the year.
Hayes viewed the large-scale disappearance of altcoins as a necessary purification process for the market. He compared this trend to the historical replacement of constituent stocks in the S&P 500 since 1929. Hayes' judgment is that even if excessive projects undergo a brutal flush, the altcoin ecosystem itself will survive.
Regarding the Bitcoin outlook, he considered global liquidity more important than regulation. Hayes stated that he does not have high expectations for the US cryptocurrency market structure bill and that regulatory bills alone are unlikely to move the market. He said that for Bitcoin to reach its year-end target of $125,000, only one catalyst is needed: “Print more money. It's that simple. I try to keep it very simple.”
Hayes defined Bitcoin as a unique asset combining tech stocks and primitive liquidity. He emphasized that in the current macroeconomic environment, the only truly important indicator is liquidity. He explained that if the US Federal Reserve, the U.S. Treasury, and central banks around the world continue to supply liquidity by printing money and buying bonds, this flow of funds could overwhelm potential burdens like AI-driven deflation and push Bitcoin higher.
In a recent interview with Kyle Chasse, Hayes strongly denied the cryptocurrency four-year cycle theory. He explained that macroeconomic factors, not the halving schedule, drive his model. Considering the structure where governments worldwide are forced to print fiat currency, the market is underestimating the upside potential of traditional stocks and cryptocurrencies, and Bitcoin will significantly outperform the S&P 500 and other traditional assets, he believes.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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