Bitcoin Price Holds Above $115K as Arthur Hayes Reaffirms $250K Target

Bitcoin price is up by a fraction of a percentage in the last 24 hours to trade at $115867 on a 10% drop in the daily trading volume to $50.58 billion

The rise in BTC price comes as BitMEX co-founder Arthur Hayes says Bitcoin investors need to be more patient and stop comparing it to stocks or gold reaching new highs. In an interview with Kyle Chasse, he explained that expecting quick profits from Bitcoin is the wrong approach and that long-term holders benefit most.

Hayes noted that Bitcoin has delivered an average yearly return of over 80% in the past decade, making it the strongest hedge against currency debasement. He pushed back on the idea that Bitcoin is falling behind, saying that while the S&P 500 and gold have set new records, their gains are small compared to Bitcoin.

Hayes also pointed out that even adjusted for gold, traditional markets haven’t fully recovered since 2008, while Bitcoin’s growth is so extreme that other assets hardly compare. He also stuck to his bullish forecast, repeating his call that Bitcoin could reach $250,000 by the end 2025.

Bitcoin Price Bullish Pattern Points to Upside

Bitcoin is trading at $115,798, showing stability even as daily trading volume slipped 10% to $50.58 billion. Despite the small pullback, the overall technical picture looks positive. The chart shows a rounded bottom pattern, a bullish signal that usually points to a change in market direction and possible price breakout.

After breaking above the neckline around $112,000, Bitcoin moved sideways for a few weeks before regaining momentum and establishing support at the $115,000 zone.

The Relative Strength Index (RSI) is at 58.52, which signals mild bullish momentum. This level suggests Bitcoin is gaining strength but is not yet in overbought territory, meaning there is still room for buyers to push the price higher. The RSI trend also confirms that the market has recovered from late August weakness, supporting the breakout from the rounded bottom formation.

BTCUSDT Analysis Source: Tradingview

The chart also highlights the next resistance level at $120,000, which traders are watching as the key breakout point. If Bitcoin clears this zone, the price could target the reward zone between $125,000 and $135,000, with an extended move potentially reaching $150,000 in the medium term.

On the downside, if Bitcoin loses momentum and fails to hold $115,000, it could revisit the stronger support area around $110,000, which acted as the neckline during the breakout.

The pattern and momentum indicators favor further upside. This aligns with bullish predictions from market figures such as BitMEX co-founder Arthur Hayes, who recently said Bitcoin could reach $250,000 by the end of 2025. While short-term volatility is still expected, the current structure suggests that Bitcoin is preparing for another rally.