Foresight News message: In a recent video interview on the Altcoin Daily podcast, Arthur Hayes said that Trump should exercise a presidential veto over the (CLARITY Act). Hayes noted that the (CLARITY Act) does nothing to benefit genuine native innovation in the industry; it’s merely a tool that U.S. VCs and compliance giants spend huge sums to lobby for, attempting to use legislation to build a compliance moat to squeeze out competition. Hayes said that since Bitcoin was born in 2009, it has never relied on so-called regulatory bills, and it won’t need them in the future either. He emphasized that the key variable determining a crypto market bull run is always fiat liquidity and the Federal Reserve’s money printing—not legislative provisions. He also pointed to the U.S. government’s double standards: the Treasury and Department of Defense have invested hundreds of millions of dollars in equity in AI, chips, and critical minerals, but they have only offered verbal talk to the crypto industry and have never provided concrete capital support.

In terms of market conditions, Hayes believes that as the U.S. Treasury bond crisis worsens and liquidity is released, Bitcoin breaking its all-time high is only a matter of time. He expects BTC to reach $126,000 by year-end; if an extreme black swan event like a Strategy liquidation occurs and BTC falls to $35,000, it would create a buying-the-dip opportunity similar to March 2020. And once the Federal Reserve releases liquidity through tools such as the FIMA Repo, driving BTC to break through $120,000, it will quickly surge toward $500,000 under low allocation and momentum-driven dynamics. He is also extremely bullish on Ethereum, saying that during the last cycle it lagged, has not yet broken through the 2021 high, and has the largest developer ecosystem alongside the strongest Lindy effect (the longer something has existed, the more people expect it to continue existing in the future). Assuming Bitcoin reaches $200,000, the target range for ETH could be viewed as $20,000 to $30,000.