Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, announced a revised Bitcoin price target of $125,000, down from $500,000, during a CoinDesk Live roundtable at Consensus Miami 2026. Hayes attributed the adjustment to the influence of global fiat currency supply on Bitcoin's value, given its fixed supply nature. Hayes highlighted that the first quarter of the year saw significant impacts on tech and SaaS stocks due to AI-related fears, with Bitcoin signaling that the current global money supply is insufficient to counteract deflationary effects like unemployment and debt defaults caused by AI. He emphasized that future monetary policies by central and commercial banks will be crucial in determining Bitcoin's potential price trajectory.