Arthur Hayes Bets on Bitcoin as Dominance Nears 70%, Altcoins Struggle

• Arthur Hayes is buying Bitcoin and expects its dominance to reach 70 percent while avoiding altcoins.
• Bitcoin dominance is rising and has hit its highest level since 2020, showing investor preference for BTC.

Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, has doubled down on Bitcoin. On X, Hayes announced that he has been buying Bitcoin($BTC), saying, “been picking BTC all day, and will keep doing that.” He focused on Bitcoin’s dominance as a top indicator to follow, pointing out that “zooming towards 70%,” signaling that the altcoins need to be handled carefully.

Hayes has said he has no interest in ramping up investment in what he described as the “shitcoin supermarket,” citing money printing as the only policy option available to those in power.

His stance points to expectations of continued liquidity injection by central banks, a macro environment in which Bitcoin typically thrives.

BTC Dominance Surges While Altcoins Face Pressure

Bitcoin dominance is currently above 63.9% for the first time since October last year. According to Analyst Rektcapital, BTC is now testing a major resistance level. If it clears the current range, then the next level of confluence is about 67% which had been seen in past cycles as a significant resistance zone for bulls. A further rise above that level may signal the accuracy of Hayes’ 70% dominance prediction.

The increase in dominance is a clear indication that investors have a strong preference for Bitcoin, especially whenever market volatility prevails. The larger market of altcoins has not been as strong though most assets have been worse during the recent sell-off.

Bitcoin began an upward dominance trend when it climbed out from a multi-year descending channel in 2023. Since the breakout point, the monthly chart has indicated higher monthly closes that portray structural market support. The trendline remains positive, and it shows that the upside for Bitcoin has intensified further in 2025, even if its price fluctuates.

Steep Price Correction Triggers $1.23B in Liquidations

Despite last week’s major bullish run to start the year, Bitcoin tumbled more than 10% on Monday, touching $74,400. This is a 30% weakening from its previous record high of $109,100. This led to heavy realizing across the cryptocurrency derivatives market, as CoinGlass showed $1.23 billion in forced liquidations in a day.

Out of the total, Bitcoin contributed $430.12 million to those losses, while Ethereum had $343.52 million in liquidations. The timing of the sell-off over a weekend worsened the effects because the continuous trading hours enabled the existence of a downtrend.

According to charts provided by crypto analyst Ali Martinez, Bitcoin is facing a critical resistance zone around $87K. That zone consists of 50-day and 200-day moving averages and downward downward-sloping long-term trend lines. This level also did not allow for a favorable price and resulted in the breakdown and many liquidations.