BitMEX founder Arthur Hayes believes Bitcoin’s short-term price trajectory hinges on U.S. politics. He suggests that if President Trump fails to pass a budget increasing spending and the debt ceiling, BTC could retrace to $70,000–$75,000—testing Trump’s influence over the Republican Party. Hayes also warns that hedge funds holding BlackRock’s IBIT ETF might liquidate positions if BTC declines further, accelerating a sell-off. Currently, Bitcoin is trading at $84,498, down 4% in 24 hours.👀