BitMEX founder Arthur Hayes projected a massive potential downside for Bitcoin (CRYPTO: BTC) in the upcoming months. He anticipated a significant correction of 20% to 30% by early March 2024. Hayes’ analysis, which is based on his assessment of various economic indicators and market trends, pointed to several key factors that could influence Bitcoin’s trajectory. He estimated the Reverse Repo Program (RRP) balance, which is the liquidity outlet for banks, could decline to $200 billion in early March. A declining Reverse Repo balance is seen as a warning sign of potential stress in short-term d…

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