Arthur Hayes Does Not Expect Bitcoin to Rise Until This Date! “There is a Risk of $90,000! I Sold All Altcoins, I Can Sell BTC Too!”

BitMEX co-founder Arthur Hayes, one of the outspoken names in the cryptocurrency industry, shared his new predictions about Bitcoin.

Bitcoin (BTC) and the market could move sideways or slightly more bearish between now and the Jackson Hole conference in August, Arthur Hayes wrote in a new blog post.

Hayes stressed that US bonds should be bought instead and claimed that buying US government bonds was a mistake.

Bitcoin (BTC) May Drop to These Levels!

The famous name said that the US government’s recent support for stablecoins is not to benefit fintech companies like Circle, but to strengthen large traditional banks and fill the treasury.

At this point, Hayes said the U.S. Treasury Department needs new ways to sell trillions of dollars in bonds and replenish the U.S. Treasury (TGA) without causing interest rates to rise. This has led Treasury Secretary Scott Bessent to look for alternative buyers and stablecoins.

However, according to Hayes, the US government’s support for stablecoins is a huge liquidity game, which could negatively affect the Bitcoin price.

Because the market is not interested in bonds at high prices, and this is pushing the US government towards stablecoins.

At this point, according to Hayes, the issuance of stablecoins by US banks could provide a purchasing capacity of $6.8 trillion, and banks could convert their existing deposits into bond purchases. This could provide new liquidity to the market for the future and trigger an increase.

However, Hayes said that by then, in the short term, Bitcoin could fall to the $90,000 to $95,000 range if the effort to refill the US Treasury and sell bonds negatively impacts USD liquidity.

Arthur Hayes lastly stated that there is a risk that the US government’s liquidity and stablecoin game could pull Bitcoin to the $90,000-$95,000 range, and that altcoins could also be negatively affected by this.

At this point, Hayes stated that his company Maelstrom has sold all of its illiquid altcoin positions and is considering reducing its Bitcoin positions depending on market performance.

*This is not investment advice.

Continue Reading: Arthur Hayes Does Not Expect Bitcoin to Rise Until This Date! “There is a Risk of $90,000! I Sold All Altcoins, I Can Sell BTC Too!”