【Arthur Hayes: The cryptocurrency market may reach a local peak in mid to late March; Maelstrom has ventured into the DeSci field】 According to Golden Finance, BitMEX co-founder Arthur Hayes stated that he believes the cryptocurrency market will peak in mid to late March. The Federal Reserve's quantitative tightening (QT) will reduce liquidity by approximately $180 billion, and an additional $237 billion of liquidity will be injected due to a reduction in RRP balances caused by adjusting reward rates. This results in a total net injection of $57 billion in liquidity. The Treasury may pay government expenditures through the TGA until May to June, after which it will need to raise the debt ceiling, which will have a negative impact on liquidity. Additionally, the peak tax season (around mid-April) will further suppress market liquidity. If the factors affecting the TGA balance are the only determinants of cryptocurrency prices, a local market peak is expected by the end of the first quarter. In 2024, Bitcoin reached a local high of around $73,000 in mid-March, then consolidated, and began a months-long decline on April 11 (just before the 15th tax deadline). He added that the disappointment of the Trump team regarding their proposed pro-cryptocurrency and pro-business legislation can be offset by an extremely favorable dollar liquidity environment, with an increase of up to $612 billion in dollar liquidity in the first quarter. He also stated, “As the Chief Investment Officer of Maelstrom, I will encourage the adventurers in the fund to shift their risks towards DEGEN. The first step in this direction is our decision to enter the thriving decentralized science (DeSci) meme coin sector. We like undervalued meme coins and have purchased BIO; VITA; ATH; GROW; PSY; CRYO; NEURON.