Bitcoin slid below $80,000 on Friday, trading at $79,525 — a 1.34% drop over 24 hours and a 37% decline from the October 2025 record of $126,080. The move comes as 10-year Treasury yields spike on hot CPI and PPI data, and as tariff tensions between Washington and Beijing escalate again. Two notable crypto figures — Arthur Hayes and Davinci Jeremie — stepped forward to tell traders to hold their nerve and buy the dip.
The dip buyers speak
Arthur Hayes, the former BitMEX CEO, called the slide a forced shakeout tied to macro pressure. He argued that spiking yields will force President Trump to secure a trade deal with China, otherwise traditional finance markets could break. Hayes had previously warned of a drop to $70,000 before a recovery, and he's still betting on a run to $250,000 once the Federal Reserve flips to quantitative easing.
Davinci Jeremie, known for his 2013 video urging people to buy Bitcoin at $116, said this is a shakeout, not a top. He noted that he bought Bitcoin near $2 when $32 was treated as the cycle peak, and that panic sellers often regret it weeks later. That $116 call has aged well — the asset has risen over 68,000% since, turning $1 into roughly $682. Both men are telling the market to buy, not run.
Macro backdrop: yields and tariffs
The sell-off tracks rising 10-year yields, which surged after the latest CPI and PPI prints came in hot. At the same time, renewed tariff tensions between Washington and Beijing are adding uncertainty. Hayes sees a direct line from bond market stress to trade policy: if yields keep climbing, he argues, the White House will have to cut a deal to avoid a broader TradFi shock. The outcome for traders may hinge on those talks.
Key level to watch: $80,000
Colin Basco, a market analyst, flagged $80,000 as a critical level. If it flips from resistance to support, the bullish interpretation strengthens. But that requires ETF flows to absorb the supply hitting the market. Right now, the level is acting as resistance — the price briefly touched $79,525 and hasn't reclaimed $80k.
What’s next for traders
The next concrete event is the trajectory of US-China trade negotiations. No date is set, but Hayes's thesis suggests pressure is building on both sides. If a deal emerges, risk assets including Bitcoin could rally. If not, the $70,000 level Hayes mentioned earlier could come into play. For now, the dip buyers are making their case — and the market is watching whether they're early or right on time.
