According to WuSay, Arthur Hayes said that in the worst case scenario, Bitcoin will slowly fall to $50,000. He will be bearish for the time being and expects intervention to begin at the end of September. Between now and then, Bitcoin will continue to fall at best, while altcoins may fall even deeper.

He remains long in an unleveraged manner. The only additions to the portfolio have been increasing the size of positions in solid shitcoin projects that are trading at increasing discounts to perceived fair value.