Arthur Hayes, the co-founder of BitMEX, has made a bold prediction that the cryptocurrency market is set to enter a sustained bull run after a massive price correction, which he believes is looming.

Hayes expressed his views in a tweet announcing the release of his “take on the BTFP bailout” the following day, describing it as “the most important financial event since COVID.” He also suggested that traders who can correctly anticipate and navigate this event stand to benefit significantly from the resulting market conditions.

The statement follows a period of high volatility in the crypto market, driven in part by the liquidation of Silicon Valley Bank (SVB) and the depegging of USD Coin (USDC). Despite these challenges, Hayes is optimistic about the future of cryptocurrencies, stating that the recent turmoil may be a necessary prelude to a sustained bull run.

Hayes explained his reasoning further in a recent interview on the Crypto Banter show, where he warned that a massive correction in the cryptocurrency market is looming. He cited the anticipated raise of the US debt ceiling this year, along with the issuance of $1.1 to $1.2 trillion in Treasury bonds to fund the 2023 USG Federal Deficit, as factors that could lead to liquidity exiting the market.

According to Hayes, this liquidity drain could pose a significant threat to risky assets such as Bitcoin, which could experience a substantial price correction. However, he added that this correction could also create a buying opportunity for savvy investors, setting the stage for a sustained bull run in the future.

Hayes’ predictions have garnered attention in the crypto community, with many traders eager to see how events unfold. If his views prove accurate, it could signal a new phase of growth and opportunity for the cryptocurrency market. However, as with any investment, it is crucial to approach it with caution and a deep understanding of the risks involved.

The Bank Term Funding Program (BTFP) has been announced by the Federal Reserve, which will provide short-term loans to eligible financial institutions, including banks, credit unions, and savings associations. These institutions can pledge their high-quality assets, such as US Treasuries, agency debt, and mortgage-backed securities, as collateral to secure loans of up to one year. The program will allow banks to borrow against their assets at face value and will provide an additional source of liquidity to prevent the need for selling securities during times of stress. The Fed will be provided with $25 billion in credit protection from the Exchange Stabilization Fund by the US Treasury, as per a statement by the Federal Reserve.

#Bitmex #ArthurHayes #BTC #crypto2023 #crypto

This article was republished from azcoinnews.com

Post By: CryptosHeadlines.com
In the ongoing crypto market rally, BitMEX co-founder Arthur Hayes is making a bold prediction. He believes that there’s a big Bitcoin rally on the horizon, especially with the recent shift in the US Federal Reserve’s stance.

BitMEX co-founder Arthur Hayes has been quite positive about Bitcoin recently. He advised the crypto community to buy Bitcoin when its price was below $25,000. Bitcoin has gone up by 75% this year, and the change in the U.S. Federal Reserve’s stance supports the idea of a significant rally before the next halving. This is something the crypto market has been eagerly anticipating after going through the worst bear market in its history.
Hayes Predicts Huge Bitcoin Price Rally
Arthur Hayes, the co-founder of BitMEX, had a message in response to the possible change in direction from the U.S. Federal Reserve. He stated, “Guess it’s time to boost financial assets. Bitcoin, it’s your turn!”
The U.S. Federal Reserve decided to keep interest rates unchanged during the recent FOMC meeting. However, they are still considering a rate hike in December. Despite this, inflation remains high, with the Fed’s preferred inflation measurement, the annual core PCE, at 3.7%, well above the 2% target.
Hayes suggests that it’s a good time to focus on Bitcoin and other cryptocurrencies rather than traditional assets like treasury bills. He believes that while the Fed is pausing, other central banks, like those in China, Europe, and Japan, will likely introduce significant stimulus measures. This is because the Fed is taking a more cautious approach, while other banks may opt for more aggressive money printing.
Crypto Rally: Bitcoin and Others Surge
In October’s positive trend, Bitcoin reached a yearly high of $35,919. But now, it’s trading at $35,193 because traders are taking their profits.
On the other hand, Solana’s price went up by 13% in just 24 hours. And it’s not alone – other major cryptocurrencies like Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) are also joining the bullish ride.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoMarket #Bitcoin #CryptoNews #BitMEX #ArthurHayes

Arthur Hayes’ Maelstrom has launched a Bitcoin Grant Program to support technical development. Developers can apply for grants ranging from $50,000 to $150,000 by August 25. The program has an annual funding limit of $250,000 per developer to support a variety of innovations.

Arthur Hayes’ family office fund, Maelstrom, has started the Bitcoin Grant Program to support Bitcoin’s technical development. The program aims to tackle key challenges in the Bitcoin ecosystem and improve its resilience, scalability, censorship resistance, and privacy. This initiative reflects a strong commitment to ongoing improvements and advancements in Bitcoin.

Bitcoin Grant Program: Application Deadline and Funding Details
The Bitcoin Grant Program is now open for developers to submit their applications by August 25. This deadline provides a clear timeframe for interested parties to prepare and present their proposals on how they will contribute to advancing Bitcoin’s technical features. Maelstrom aims to streamline the selection process to ensure that the most promising projects can begin work quickly and effectively.
Developers chosen for the program will receive financial support ranging from $50,000 to $150,000. This funding is designed to provide the necessary resources for developers to carry out significant and impactful work on Bitcoin’s technical aspects. The varying grant amounts accommodate a range of projects, from smaller initiatives to larger, more comprehensive efforts aimed at enhancing Bitcoin’s functionality.
Bitcoin Grant Program: Funding Limits and Project Duration
The Bitcoin Grant Program has established an annual funding limit of $250,000 per developer. This cap ensures that resources are distributed widely, allowing multiple projects to benefit from the program. Maelstrom highlighted that this approach aims to encourage a diverse range of innovations within the Bitcoin community and foster a collaborative environment.

The program provides a 12-month grant period, giving developers a structured timeframe to work on their projects. This duration balances the need for timely solutions to Bitcoin’s technical challenges with the importance of developing thorough and effective solutions. The one-year timeframe allows for in-depth research and development, leading to more robust and impactful outcomes.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#ArthurHayes #Bitcoin #EthereumETF #Polygon #CraigWright $BTC $ETH $SOL