Arthur Hayes predicts Bitcoin will rally further as US Treasury Secretary Scott Bessent's liquidity injection strategies drive dollar supply increases.
Macro & Markets ·
Arthur Hayes has characterized Bitcoin as having entered a new bull market, anchoring his outlook to anticipated shifts in dollar liquidity stemming from US Treasury Secretary Scott Bessent's policy approach. Hayes contends that liquidity injections aimed at managing Treasury yields historically support risk assets, drawing a parallel to patterns observed during Janet Yellen's tenure at the Treasury.
Hayes predicts Bessent will pursue smaller, more frequent buybacks to increase liquidity, a mechanism he sees as likely to sustain Bitcoin's upward momentum. His thesis pivots on Treasury policy rather than Federal Reserve rate cuts as the near-term catalyst for additional price appreciation.
The prediction remains conditional on Bessent's actual implementation of these liquidity strategies and their magnitude relative to market expectations. No timeline for when these moves might occur or specific price targets are mentioned in the available material.