Bitcoin poised to retest $126,000 as macro factors like AI spending and war boost demand, says BitMEX co-founder.

BitMEX co-founder Arthur Hayes predicts Bitcoin has bottomed near $60,000 and is set to retest its previous high around $126,000. He attributes this potential rally to large macroeconomic forces including increased spending on artificial intelligence infrastructure, war-related government budgets, commodity stockpiling, and credit expansion in the US and China. Hayes argues these factors weaken fiat currencies and favor scarce digital assets like Bitcoin, which recently recovered to about $80,875. Key resistance lies between $86,500 and $90,900, with a break above $90,000 possibly triggering stronger buying momentum. On-chain data also shows early signs of a bull market, though analysts caution that confirmation from demand is still needed.