BitMEX founder Arthur Hayes has fueled speculation in the cryptocurrency market by suggesting that Bitcoin could rise.
In a recent X-platform update, Arthur Hayes, co-founder of BitMEX and a well-known figure in the cryptocurrency space, shared compelling insights on a potential rally in Bitcoin. Along with this, the message was accompanied by a chart of changes in net reverse repurchase agreements (RRP) and Treasury General Account (TGA) balances, explicitly referring to Treasury Secretary Janet Yellen as “Bad Gurl Yellen.”
Notably, during the discussion on USD liquidity and market dynamics, Arthur Hayes pointed out important indicators that suggest a positive trend for Bitcoin price.
Arthur Hayes predicts Bitcoin rebound
Arthur Hayes urged Bitcoin enthusiasts not to be distracted in a recent post, highlighting the significant increase in U.S. dollar liquidity. At the same time, he said that as the liquidity of the U.S. dollar increases, Bitcoin (BTC) is likely to follow suit, and a positive price movement is expected.
Notably, the chart shows the net change in RRP and TGA balances, suggesting a potential correlation between increased liquidity and Bitcoin’s upward trajectory.
Meanwhile, Dharmafi, another cryptocurrency analyst, provided more specific data to X. The post highlighted $65 billion in reverse repurchase agreements (RRPs) and $35 billion in Treasury General Account (TGA) balances, adding up to a staggering $106 billion in net liquidity since Tuesday.
The disclosure marks a significant increase in liquidity in a short period of time, reflecting the dynamic changes in the financial landscape.
Market dynamics and Bitcoin’s response
As Arthur Hayes said, the surge in liquidity highlights the changing dynamics within financial markets. Investors and Bitcoin enthusiasts are closely watching these liquidity injections for their potential impact on the cryptocurrency market.
While the BitMEX co-founder highlighted the relationship between dollar liquidity and Bitcoin’s future performance, the specific data provided by Dharmafi added weight to the numbers of liquidity inflows. Net liquidity increased by $106 billion since Tuesday, indicating a rapid injection of funds into the financial system, raising questions about the potential impact on various asset classes, including cryptocurrencies.
Meanwhile, as the cryptocurrency community explores these nuanced observations and emerging trends, the role of influential figures such as Janet Yellen in shaping market dynamics becomes a focal point of discussion. The coming days may reveal how Bitcoin responds to the surge in liquidity, and Bitcoin enthusiasts remain wary of potential market changes.
Notably, as of writing on Saturday, Bitcoin price rose 0.89% to $37,800.42 and hit a yearly high of $38,415.34 in the past 24 hours.
Meanwhile, Janet Yellen, also known as a Bitcoin critic, recently warned cryptocurrency exchanges to comply with the law. For background, Janet Yellen urged virtual currency companies to comply with laws and regulations in a recent statement from the U.S. Department of Justice (DOJ).
Yellen issued a warning message, emphasizing the importance of compliance in the virtual currency industry and stressing that compliance is essential to enjoying the privilege of operating within the U.S. financial system. Prior to this announcement, the U.S. Department of Justice found Binance guilty of money laundering and multiple other charges.
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【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.
