The crypto market is reeling from one of its sharpest pullbacks in months, with Bitcoin (BTC) dropping to $74,000 amid escalating global trade tensions.

The sell-off has traders scrambling to assess whether this is a temporary correction or the start of a deeper downturn, and at the center of the storm is outspoken BitMEX co-founder Arthur Hayes, who is urging investors to buy the dip, even as his $76,500 support level gets decimated.

Trade Wars, Tariffs, and Market Turmoil

A combination of macroeconomic uncertainty, aggressive trade policies from U.S. President Donald Trump, and rising expectations of monetary intervention collided to send traditional financial markets into a tailspin. While Bitcoin initially seemed to keep its head above the water, making gains while major U.S. stock indices dropped, the after-tremors have finally hit, with the cryptocurrency shedding 10% of its value in the last 24 hours.

Hayes had earlier predicted BTC would hold the $76,500 level until April 15, the U.S. tax deadline. However, as of this writing, the number one cryptocurrency was trading at $74,800, way below the analyst’s expectation.

His latest post oscillates between defiance and dark humor. “Oh what shall I do, if $BTC breaks below $76,500 my credibility will be in tatters,” he joked. At the same time, the former crypto executive urged his 672,000 followers to take advantage of the price drop and accumulate, issuing a profanity-laced rallying cry: “BUY THE F*CKING DIP!”

However, not everyone shares Hayes’ conviction. Some X users were quick to ridicule his calls, with one trader writing, “You genuinely have no credibility. Even a broken clock is correct twice.” Another compared him to CNBC’s Jim Cramer, a frequent target of the crypto community’s disdain.

Still, others defended the Bitcoin enthusiast, pointing to his long-term logic. “The outcome matters, but your reasoning is more important. I am confident in your logic, and the long term will yield better results,” one user commented.

Incoming Quantitative Easing?

Hayes’ optimism stems from his belief that mounting bond market volatility will eventually force central banks to resume aggressive money printing. “If ur trying to predict when the Fed caves and goes Brrr, watch the bond vol MOVE Index,” the analyst wrote in an X post on Monday. “These are the two mrkts the Fed will defend to death. 140 yachtzee time!”

The crypto investor has long argued that monetary expansion will act as a springboard for Bitcoin’s next parabolic move. In his opinion, the ripple effects of Trump’s economic nationalism will force monetary authorities around the world into a new wave of quantitative easing (QE), and smart money should prepare for the inevitable influx of liquidity into crypto.