Arthur Hayes Says Bitcoin Rally May Depend on Banks, Not Just Fed

Arthur Hayes linked bitcoin’s next rally to renewed dollar liquidity from commercial banks or the Federal Reserve. His near-term warning follows a longer-term bullish outlook that includes bitcoin eventually reaching $1 million and a money-creation-driven crypto bull run. Arthur Hayes, co-founder of cryptocurrency derivatives exchange Bitmex and chief investment officer at crypto investment firm Maelstrom, linked bitcoin’s outlook to commercial bank or Federal Reserve balance sheet growth on X on Nov. 2. In his assessment of dollar liquidity , he stated: His argument centers on dollar liquidity: the availability of dollar funding and credit for spending and investment.

Source: Bitcoin.com News