The money printer is off — Bitcoin is feeling down 📉
BitMEX co-founder Arthur Hayes expects BTC to remain weak for a prolonged period. In his view, without fresh large-scale injections from the Fed and major banks, the market simply has no fuel for a sustained bull run.
Although dollar liquidity in the US has edged up slightly since the start of the year, it has already fallen from its October peaks. Hayes decided not to take any chances: he fully closed his short-term positions and took profits, selling $22.28 million worth of cryptocurrency. Until regulators start aggressively expanding their balance sheets, the investor would rather wait out the storm on the sidelines, watching Bitcoin fall below $77,000.
BitMEX co-founder Arthur Hayes expects BTC to remain weak for a prolonged period. In his view, without fresh large-scale injections from the Fed and major banks, the market simply has no fuel for a sustained bull run.
Although dollar liquidity in the US has edged up slightly since the start of the year, it has already fallen from its October peaks. Hayes decided not to take any chances: he fully closed his short-term positions and took profits, selling $22.28 million worth of cryptocurrency. Until regulators start aggressively expanding their balance sheets, the investor would rather wait out the storm on the sidelines, watching Bitcoin fall below $77,000.
