Arthur Hayes just dropped a banger take:

Scott Bessent is running the SAME liquidity playbook as Yellen — bond buybacks = money printer go brrr 💸

Hayes says this is THE reason $BTC's new bull run kicked off. Not narratives. Not ETFs. Pure liquidity injection.

If you're not watching Treasury operations, you're missing the real alpha. The Fed might pause, but the Treasury desk never sleeps.

Liquidity = everything. Follow the flow, not the noise.