Arthur Hayes: Bitcoin Narrative Shifts to "Wartime Inflation," Target Price $125,000

Odaily Planet Daily reported that BitMEX co-founder Arthur Hayes stated at the "Bitcoin 2026" conference that the market narrative for Bitcoin is shifting from "AI deflation" to "wartime inflation." He reiterated his bullish outlook on Bitcoin, setting a target price of $125,000.

Hayes believes that the US-Iran war is driving expectations of inflation and credit expansion, while improved liquidity in the banking system will hedge against the credit contraction triggered by AI. He also noted that his liquidity indicator bottomed out last November and has moved in sync with Bitcoin's price trend.