BitMEX Founder Arthur Hayes Reveals When Bitcoin Price Can Start Rally Again

Arthur Hayes Bullish On Bitcoin Rally

BitMEX co-founder Arthur Hayes on June 20 said the Treasury General Account (TGA) refill is not impacting risk markets as the US dollar net liquidity stands at $77 billion. He believes the TGA refill by the US Treasury Dept is nothing to worry about.

advertisement

Arthur Hayes plans to buy crypto as the net liquidity index remains “positive.” If the index goes “negative,” he will slow down or stop his purchases. He predicts that US Treasury will slow down T-bills or debt issuance once the TGA balance is more than $450 billion.

TGA balance during the debt ceiling deal was below $40 billion, now it is $250 billion. The US Treasury is building its account balance without impacting financial markets and US dollar liquidity.

He has created a custom US dollar liquidity index to track how TGA refill will affect the US dollar liquidity. “I look at values of RRP and TGA as of their last print before the debt ceiling bill was signed on June 3rd. If RRP is falling that is +ve for $ liq, if TGA is rising that is -ve for $ liq. I look at the net of the two.”

Recommended Articles
US Dollar Liquidity Index.
US Dollar Liquidity Index. Source: Arthur Hayes

Also Read: Fidelity Investments Reportedly Filing BlackRock-Type Spot Bitcoin ETF, Acquire Grayscale

Crypto Market Rebound Is Clear

The crypto market continued upside momentum after the uncertainty surrounding US SEC lawsuits against Binance and Coinbase eased.

Bitcoin continues to move upside after rebounding from the expected $24,800 support level. Bitcoin price jumped above $27,000 today as a result of fresh buying from whales. BTC price currently trades at $26,796, up 2% in the last 24 hours.

Meanwhile, ETH price remains stable near $1750, up 0.50%. The 24-hour low and high are $1705 and $1750, respectively. Key events this week will impact Bitcoin and Ethereum prices.

Also Read: Terra’s Do Kwon, Former CFO Found Guilty By Montenegro Court

Mooky Presale
Mooky Coin Presale
$MOOKY is a meme token which helps planting trees by donating to charity.
Visit Here
AD

Comments

Popular posts from this blog

MEXC Maintains Strong Financial Stability with Over 100% Proof of Reserve Across Major Assets

Ripple’s $10M London Office Expansion

Euroclear launches digital securities issuance service, settles World Bank bond