Arthur Hayes Says Bitcoin Bull Market Has Begun After Treasury Buyback Expansion
TLDR
- Arthur Hayes declared a Bitcoin bull market has begun, linking it to U.S. Treasury bond buyback expansion
- The Treasury doubled long-end buyback caps from $2 billion to at least $4 billion per operation, starting September 9
- Bitcoin rose from below $65,000 to above $80,000 following the Treasury announcement on August 19
- U.S. spot Bitcoin ETFs recorded $517 million in net inflows on August 19, their strongest day since early May
- Hayes said his fund Maelstrom moved to maximum risk exposure, with positions in Bitcoin, Ether, Ethena and Ether.fi
BitMEX co-founder Arthur Hayes declared a new Bitcoin bull market has begun, pointing to a U.S. Treasury decision to expand bond buybacks as the key driver of fresh dollar liquidity.
Arthur Hayes Says Bitcoin Bull Market Is Underway as Treasury Buybacks Boost Liquidity
BitMEX co-founder and Maelstrom CIO Arthur Hayes argued in his latest essay, Same Same But Different, that U.S. Treasury Secretary Scott Bessentโs expansion of longer-dated Treasury buybacksโฆ pic.twitter.com/qcbIsNXaql
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