Blockchain News Flash: The U.S. Government May Become a Bitcoin Bull Market Catalyst 🚀
Arthur Hayes, the former CEO of cryptocurrency exchange BitMEX, said in an Oct. 4 post that the surge in U.S. Treasury yields could be the harbinger of a new Bitcoin and cryptocurrency bull market. He believes that the US government's "no way out" dilemma may lead to large-scale liquidity injections, offsetting the quantitative tightening that has weighed on the crypto market since the end of 2021. 😯
This week, the 30-year U.S. government bond yield hit 5% for the first time since August 2007, before the global financial crisis. Philip Swift, the creator of LookIntoBitcoin and co-founder of the trading suite Decentrader, expressed his support for Hayes’ prediction, believing that this will be the main catalyst for the Bitcoin bull run. 💥
Meanwhile, the United States continues to add to its record-high national debt at an alarming rate. Two weeks after total debt exceeded $33 trillion for the first time, the government increased its total by $275 billion in just one day. 📈
Currently, Bitcoin price is around $27,500. While uncertainty remains in the market, the U.S. government’s actions may bring new opportunities to the Bitcoin market. 🌟
Arthur Hayes, the former CEO of cryptocurrency exchange BitMEX, said in an Oct. 4 post that the surge in U.S. Treasury yields could be the harbinger of a new Bitcoin and cryptocurrency bull market. He believes that the US government's "no way out" dilemma may lead to large-scale liquidity injections, offsetting the quantitative tightening that has weighed on the crypto market since the end of 2021. 😯
This week, the 30-year U.S. government bond yield hit 5% for the first time since August 2007, before the global financial crisis. Philip Swift, the creator of LookIntoBitcoin and co-founder of the trading suite Decentrader, expressed his support for Hayes’ prediction, believing that this will be the main catalyst for the Bitcoin bull run. 💥
Meanwhile, the United States continues to add to its record-high national debt at an alarming rate. Two weeks after total debt exceeded $33 trillion for the first time, the government increased its total by $275 billion in just one day. 📈
Currently, Bitcoin price is around $27,500. While uncertainty remains in the market, the U.S. government’s actions may bring new opportunities to the Bitcoin market. 🌟