According to Foresight News, Arthur Hayes has stated that the cryptocurrency bull market is 'reawakening' following interest rate cuts by the Canadian and European Central Banks. The Bank of Canada was the first major central bank this year to cut interest rates, reducing them by a quarter of a percentage point to 4.75%. Similarly, the European Central Bank also lowered its interest rates by a quarter of a percentage point, bringing them down to 4.25%. These actions by the central banks have seemingly stimulated the cryptocurrency market, leading to a resurgence in its bullish trend.