Arthur Hayes, co-founder of BitMEX, is betting that Bitcoin could be on the verge of a major rally—fueled not by halving cycles, but by central bank behavior.
Hayes recently argued that the U.S. Federal Reserve is poised to unleash another wave of liquidity into the financial system. He believes this move will ignite fresh momentum in Bitcoin, pushing the asset beyond current resistance levels as investors scramble for protection against the weakening dollar.
Bitcoin briefly dipped below the $100,000 mark over the weekend and again on Monday but quickly regained its footing. Hayes dismissed the dip as temporary, suggesting that once liquidity starts flowing, Bitcoin will cement its role as a digital safe haven.
He doubled down on this view in a separate interview, where he rejected the conventional belief that Bitcoin’s market moves follow a fixed four-year rhythm based on halving events. Instead, Hayes emphasized that liquidity conditions—how much money is circulating and being pumped into the market—are what really shape bull and bear cycles.
In his words, market timing hinges on “how much liquidity is being in the market, what’s the expectation of the market going forward, what’s the future discount rate of liquidity.” He sees central banks as the key variable, not miner reward schedules.
Looking ahead, Hayes remains bullish. He believes the long-term impact of ongoing monetary expansion will push Bitcoin to $1 million per coin by 2028.
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