Arthur Hayes warns: Dollar liquidity replenishment may not be enough to support BTC; Fed balance sheet expansion is the key variable
Nov. 3 — BitMEX co-founder Arthur Hayes shared a chart of the U.S. dollar liquidity index on X, along with his views on dollar liquidity and Bitcoin’s price trajectory.
Hayes noted that dollar liquidity is being replenished, with signs of marginal improvement in market funding conditions. However, he also said that BTC is likely to remain weak until the Federal Reserve and/or banks begin expanding their balance sheets.
In other words, in his view, the current replenishment of liquidity is not enough to support a rise in Bitcoin’s price. A genuine turning point in the market will likely require concrete signs of balance sheet expansion by the Fed or commercial banks, which could provide stronger upward momentum.
What do you think—will BTC really weaken before the Fed expands its balance sheet? If Hayes is right, how low could BTC fall next? Share your predictions in the comments.
#美元流动性 #市场观点
Nov. 3 — BitMEX co-founder Arthur Hayes shared a chart of the U.S. dollar liquidity index on X, along with his views on dollar liquidity and Bitcoin’s price trajectory.
Hayes noted that dollar liquidity is being replenished, with signs of marginal improvement in market funding conditions. However, he also said that BTC is likely to remain weak until the Federal Reserve and/or banks begin expanding their balance sheets.
In other words, in his view, the current replenishment of liquidity is not enough to support a rise in Bitcoin’s price. A genuine turning point in the market will likely require concrete signs of balance sheet expansion by the Fed or commercial banks, which could provide stronger upward momentum.
What do you think—will BTC really weaken before the Fed expands its balance sheet? If Hayes is right, how low could BTC fall next? Share your predictions in the comments.
#美元流动性 #市场观点
