Bitcoin briefly broke through $74K this morning. Arthur Hayes, co-founder of BitMEX and a long-time bullish advocate for BTC, issued a warning, stating that Bitcoin’s trend has not yet decoupled from US SaaS tech companies. This may just be a short-term rebound. Investors should be patient.
$BTC (white) has not decoupled yet from US SaaS tech companies (green). It could be a dead cat bounce. We aren’t in the clear yet. Be patient. pic.twitter.com/kRrmAdfMlS
— Arthur Hayes (@CryptoHayes) March 4, 2026
Bitcoin briefly surpassed $74K
Bitcoin surged from $67K yesterday afternoon and briefly broke through $74K this morning, reaching the highest point since early February.
After effectively breaking the $70K barrier, Bitcoin triggered a large short squeeze, with nearly $600 million in positions liquidated within 24 hours, including $480 million in longs, mostly in Bitcoin.
Bitcoin’s trend has not yet decoupled from SaaS; this wave is just a short-term rebound
Arthur Hayes, co-founder of BitMEX and a long-time bullish supporter of BTC, recently published a lengthy article, suggesting that the ongoing escalation of military conflicts between the US and Iran could prolong, and the Federal Reserve (Fed) might respond with rate cuts or expanded monetary easing to address fiscal pressures. Bitcoin could potentially benefit from this.
(Firefights driving money printing? Arthur Hayes: The longer US-Iran conflict lasts, the stronger Bitcoin’s upward momentum)
However, during yesterday’s sharp rise in Bitcoin, Hayes warned that Bitcoin’s trend has not yet decoupled from US SaaS tech companies, and this may only be a short-term rebound. Bitcoin remains in a risky situation; investors should be patient.
Hayes has previously advised investors to remain cautious, as it is still uncertain how long and how intense US policies toward Iran will be, and when or if the Fed will pivot. Instead of betting prematurely, it’s better to wait for concrete policy actions, such as clear rate cuts or resumption of balance sheet expansion.
This article, “Bitcoin rebounds to $74K, Arthur Hayes: BTC has not yet escaped danger,” was first published on Chain News ABMedia.
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