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The 126-day bear cycle is nearing a historical zone linked to volatility expansion. Liquidity stabilization is appearing before price confirmation across multiple altcoins. Risk positioning remains data-driven rather than sentiment-led at this stage. Market data shows the 126-day crypto bear cycle approaching a zone that has historically aligned with momentum shifts. Previous cycles displayed volatility compression, declining sell pressure, and gradual capital rotation before directional moves emerged. Analysts tracking liquidity, derivatives positioning, and on-chain behavior note similar structural conditions forming again. While confirmation remains absent, risk-focused traders are monitoring select altcoins positioned near long-term support. The following assets are being observed due to their liquidity depth, network activity, and historical response during late-cycle conditions. The focus remains analytical, not predictive, as the market awaits validation. Hyperliquid (HYPE): Derivatives Liquidity Enters a Pivotal Phase Hyperliquid is being tracked as on-chain derivatives activity stabilizes after extended drawdowns. Volume concentration has shifted toward fewer participants, often seen during late bear phases. Funding rates have moderated, suggesting reduced speculative leverage. Network usage metrics remain exceptional relative to peers, despite price compression. Historically, similar conditions preceded volatility expansions, though direction remains uncertain. The asset’s structure is considered outstanding due to transparent liquidity mechanics and consistent settlement behavior. Ethena (ENA): Stablecoin Dynamics Shape Risk Metrics Ethena continues to reflect evolving stablecoin design trends under stressed market conditions. Supply adjustments and collateral efficiency remain central to risk assessment. Price action has stayed range-bound, reflecting neutral positioning. Analysts describe the protocol’s structure as innovative and groundbreaking, given its adaptive mechanisms. However, broader market sentiment will likely dictate short-term movement rather than protocol fundamentals alone. Sui (SUI): Layer-1 Activity Tests Long-Term Support Sui has entered a technically sensitive range following prolonged downside pressure. On-chain transactions show stabilization, while developer activity remains steady. Comparable historical phases often preceded either accumulation or continuation moves. The network’s scalable design is viewed as superior in throughput metrics, though price confirmation remains absent. Market participants are monitoring volatility contraction closely. Avalanche (AVAX): Network Usage Diverges From Price Trends Avalanche shows a notable divergence between ecosystem activity and market valuation. Subnet deployment remains active despite reduced speculative interest. Liquidity conditions appear healthier than during prior cycle lows. Analysts describe this divergence as remarkable, though confirmation is required. Historically, such gaps have been resolved through delayed repricing or extended consolidation. Litecoin (LTC): Legacy Stability Meets Cycle Pressure Litecoin continues to trade as a liquidity anchor during uncertain phases. Transaction consistency and network uptime remain unmatched among older assets. Volatility remains compressed, aligning with late-cycle historical patterns. While growth metrics appear modest, structural resilience is viewed as elite within legacy networks. Tags: Altcoin Crypto market cryptocurrency Ethena (ENA) HYPE Sui (SUI)

In brief Arthur Hayes believes Bitcoin could run to $200,000 by March before settling around $124,000. The BitMex co-founder thinks the Fed's new RMP policy is a catalyst, likening it to quantitative easing (QE). In this scenario, Hayes sees BTC ranging from $80,000-$100,000 to close out the year. Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE BitMex founder and Bitcoin billionaire Arthur Hayes says BTC will soon rise to a price of $200,000 before falling back to create a bottom above $124,000. According to Hayes, the sharp rise in Bitcoin’s price will stem from the Fed’s “Reserve Management Purchases” or RMP, a new operating policy shared by the Fed at its most recent FOMC meeting that he likened to quantitative easing. “RMP is a new acronym that entered my Love Language dictionary on December 10th, the day of the most recent Fed meeting,” wrote Hayes in his latest blog post from Friday. amp;amp;lt;span data-mce-type="bookmark" style="display:inline-block;width:0px;overflow:hidden;line-height:0" class="mce_SELRES_start"amp;amp;gt;amp;amp;lt;/spanamp;amp;gt; “Immediately, I recognized it, understood its meaning, and treasured it like my long-lost love, quantitative easing (QE),” he continued. “I love QE because it means money printing, and thankfully I own financial assets like gold, gold/silver mining stocks, and Bitcoin that rise faster than the pace of fiat money creation.” In Hayes’ view, if money printing continues to drive the adoption of Bitcoin, then it may ultimately replace the “filthy fiat fractional reserve system” one day. The Bitcoin billionaire has previously pointed to money printing, or the Fed increasing the money supply and buying assets, as a major catalyst for the top crypto coin. Earlier this year, he predicted that Bitcoin could rise to $250,000 by year’s end as a result of money printing policies. That hasn’t happened yet, and he no longer believes that, now instead calling for BTC to range between $80,000-$100,000 through the end of the year. In the new year, though, he expects Bitcoin to quickly take off. “As the market equates RMP to QE, Bitcoin will quickly retake $124,000 and punch quickly towards $200,000,” Hayes wrote. “March will mark peak expectations for the power of the RMP to ramp asset prices, and Bitcoin will decline and form a local bottom well above $124,000 as John Williams keeps his grubby fingers firmly planted on the Brrrr button.” Williams, the president and CEO of the Federal Reserve Bank of New York, serves as vice chair of the FOMC, the body responsible for setting monetary policy—like interest rates. With Bitcoin’s expected rise alongside the introduction of RMP, Hayes also likes Ethena’s native token, ENA, calling it a “a TradFi vs. crypto USD rates play” Bitcoin would need to jump 127% in the coming months to reach Hayes’ predicted mark. It recently changed hands around $88,000—30% below its all-time high mark of $126,080. Hayes' comments came the same day that crypto analytics firm CryptoQuant said that Bitcoin appears to have entered a bear market, based on various market factors (beyond price) that suggest significant decline since early October.

Arthur Hayes, a controversial figure in the cryptocurrency market, is back in the spotlight today with his latest altcoin purchase. According to on-chain data, Hayes purchased 137,120 PENDLE tokens through liquidity provider Flowdesk. The total value of the transaction was reported to be approximately $260,000. Hayes’s move is being considered in conjunction with another transaction that occurred the day before. Yesterday, it was reported that Arthur Hayes withdrew 1.22 million ENA tokens from the Binance exchange, a transaction worth approximately $257,000. Related News What Lies Ahead for XRP? Experts Assess the Price - “It Should Move Above This Level” On the other hand, it’s not just Arthur Hayes who’s making noteworthy moves in the market; other major investors are too. A whale wallet reportedly withdrew 246,259 LINK tokens from Binance, with a total value of $3.08 million. The same wallet’s current LINK balance is said to have reached 445,775 tokens, worth approximately $5.57 million. Another whale investor withdrew 272.2 million PENGU tokens from Binance, generating approximately $2.52 million in transactions. Data from the past two weeks reveals that this whale has accumulated over 273 million PENGU tokens in total, as well as a limited amount of TRUMP tokens. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Arthur Hayes, a closely followed figure in the cryptocurrency market, has once again made headlines with a noteworthy on-chain transaction. According to Arkham data, Hayes purchased 1.22 million ENA tokens approximately 30 minutes ago. The total value of the transaction was recorded as $257,500, with a purchase price of $0.21. According to on-chain data, the total portfolio value of five different wallets linked to Arthur Hayes is $76.3 million. USDC, valued at $47.8 million, constitutes the majority of the portfolio, while Ethereum (ETH) and derivative staking assets (EETH, WEETH) also hold a significant share. Hayes’ ENA assets have reached 6.1 million with the latest purchase, reaching approximately $1.29 million. Related News Galaxy Digital, Which Manages Billions of Dollars, Reveals Its Bitcoin, Ethereum, and Solana Predictions for 2026 This move aligns with Hayes’ recent strong bullish outlook for both macro and crypto markets. Hayes, an experienced investor and CIO of the Maelstrom fund, recently outlined an ambitious roadmap for Bitcoin over the next three months in a published analysis. He argues that the Fed is effectively increasing the money supply with its new program called “Reserve Management Purchases (RMP),” and that its effects are similar to quantitative easing (QE). *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!