BitMEX founder Arthur Hayes says that the crypto market could also be gearing up for a 2022-style breakout amid concern, uncertainty and doubt (FUD).
In a brand new interview with the host of the Crypto Banter YouTube channel Ran Neuner, Hayes says central banks will seemingly enhance cash printing to handle worsening macroeconomic situations that might push Bitcoin (BTC) and different crypto property to a lot larger valuations.
“I believe that the setup is simply excellent for a rally in danger property, identical to we noticed from the third quarter of 2022 till early 2025. There’s an identical setup right now. We’ve plenty of concern, uncertainty, doubt within the markets, and the financial authorities, particularly in America, can not deal with that, in order that they’re going to resort to cash printing…
That is all in regards to the Treasury. [Former US Treasury Secretary] Janet Yellen printed $2.5 trillion from 2022 to 2025. Bitcoin went up 6x. [US Treasury Secretary Scott] Bessent has to do one thing related. And in order that’s why April ninth was the underside, and we’re going to go a lot larger from right here.”
Hayes additionally predicts that the Bitcoin dominance (BTC.D) metric might quickly enter a downward section after tagging the 70% stage, setting alts as much as outperform the flagship crypto asset.
BTC.D calculates how a lot of the crypto market cap belongs to BTC. Bitcoin dominance at the moment stands at 64.81%.
“I believe Bitcoin dominance goes to 70%-ish. Bitcoin goes to the $150,000 stage, one thing round there. After which we begin to get the rotation into altcoins.”
Bitcoin is buying and selling for $94,030 at time of writing, down 1.8% within the final 24 hours.
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