Community Trust ScoreVerified
Bitcoin’s recent plunge has triggered widespread anxiety across the crypto market, but not everyone is panicking. While traders weigh whether to sell or hold, veteran investor and BitMEX co-founder Arthur Hayes views the selloff as an opportunity. To him, the correction is less a disaster and more a clearance event before the next leg higher.
The outspoken trader, long known for his contrarian strategies, declared that “Bitcoin is on sale.” His remarks come amid one of the most volatile weeks of 2025, with Bitcoin sliding to $104,000 — its weakest level since June — following a cascade of liquidations and exchange inflows from large holders.
Market Fear Meets Contrarian Optimism
Hayes’s stance stands in sharp contrast to the prevailing fear dominating social platforms and trading desks. “Every major crash in Bitcoin’s history has been followed by an accumulation phase,” he noted, suggesting that those who can stomach the volatility are likely to benefit once liquidity returns to the market.
He even hinted that U.S. economic strains could play a pivotal role in the next Bitcoin rally. According to Hayes, if regional banking instability escalates into a broader financial crisis, government bailouts and liquidity injections — similar to those seen in 2023 — could flood the system once again, pushing digital assets upward.
For now, Hayes says he’s preparing his shopping list. While most traders are reducing exposure, he’s waiting for confirmation that the market has stabilized before executing his next round of buys. “Panic doesn’t pay,” he wrote on social media, adding that “this is when real investors build wealth.”
Bitcoin Faces Its Toughest Test Since June
Despite the optimism from figures like Hayes, the broader market remains under pressure. Bitcoin’s drop to $104,000 came after a sharp unwinding of leveraged positions and a surge in exchange deposits from miners and long-term holders.
On-chain data shows that more than 51,000 BTC — worth over $5 billion — were sent to exchanges this week. This kind of inflow typically signals preparation to sell, suggesting that whales and miners are securing profits or managing operational costs amid heightened volatility.
At the same time, U.S.-listed Bitcoin ETFs have experienced heavy redemptions, with roughly $536 million withdrawn in a single day. This outflow has further weakened market sentiment, fueling speculation that institutional appetite may be fading in the short term.
Political Noise Adds Volatility
Adding to market jitters were recent comments from former U.S. President Donald Trump, who hinted that proposed 100% tariffs on Chinese imports “might not go into effect.” The remark briefly lifted sentiment across global markets, including crypto, but the rebound was short-lived. Traders remain cautious, interpreting the back-and-forth as a reminder of how macro politics can disrupt risk assets.
Gold vs. Bitcoin: The Old Debate Rekindled
The latest downturn has also reignited the ongoing debate between gold advocates and Bitcoin supporters. Veteran gold investor Peter Schiff argues that the crypto bull run has ended, pointing out that Bitcoin’s 34% decline against gold in 2025 exposes its weakness as a store of value.
In a recent post, Schiff described Bitcoin as “fool’s gold,” urging investors to shift back to physical bullion. “The so-called digital gold experiment has failed,” he said. “The next chapter for Bitcoin will be brutal.”
However, not everyone agrees with that assessment. Prominent Bitcoin supporter Anthony Pompliano countered by flipping the comparison, emphasizing that when measured in BTC terms, gold is actually down 84%. “Since 2020, Bitcoin has gained more than 15,000%,” Pompliano said, calling BTC “the ultimate safe-haven of the digital age.”
He argued that short-term volatility doesn’t erase Bitcoin’s long-term dominance, adding that those who focus on multi-year growth instead of daily swings are the ones who benefit most.
Bitcoin Whales Stay Active Amid Chaos
While retail investors show signs of fear, Bitcoin whales — large holders with substantial market influence — appear to be taking advantage of discounted prices. Data from major analytics platforms indicates an uptick in wallet accumulation following the drop below $105,000.
Whales have historically used periods of panic to accumulate BTC quietly, often preceding major rebounds. “This is a classic accumulation setup,” said a market strategist from Glassnode, noting that similar patterns appeared before Bitcoin’s recoveries in 2020 and 2023.
Still, the analyst warned that volatility could persist in the short term as traders continue to unwind positions. “We might not have reached the bottom yet, but the buying behavior of whales suggests growing confidence in Bitcoin’s long-term strength,” the report added.
Hayes’ Playbook: Volatility Equals Opportunity
Arthur Hayes’s approach has always leaned into volatility. During prior market corrections, he emphasized that every major downturn eventually becomes a wealth transfer — from those who panic to those who wait. His latest remarks echo that sentiment.
“Bitcoin doesn’t die; it resets,” Hayes wrote, reinforcing his belief that the digital asset’s cyclical nature is its greatest advantage. To him, temporary crashes only clear out overleveraged traders, paving the way for stronger, more sustainable rallies.
Whether this dip becomes a generational buying moment or another short-lived bounce remains uncertain. Yet Hayes’s conviction has once again positioned him as one of the few major voices calling for patience — and accumulation — while others retreat.
The Bottom Line
The crypto market’s fear index is climbing, but not everyone is running for the exits. With Bitcoin now trading near multi-month lows, the debate between panic and patience is intensifying.
Arthur Hayes and a growing number of Bitcoin whales believe this correction will eventually be seen as an opportunity rather than a collapse. For now, all eyes are on whether Bitcoin can reclaim key levels around $110,000 and restore confidence — or if the market must endure more pain before the next recovery begins.
