If Bitcoin and Ethereum break through $70,000 and $4,000 respectively, the alt season will return
On August 13, BitMEX co-founder Arthur Hayes said in his latest blog post that Yellen will inject at least $301 billion and up to $1.05 trillion from now to the end of the year. This will create a brilliant bull market for all risk assets, including cryptocurrencies, before the election.
According to Yellen, the net issuance of U.S. Treasury bonds will reach $301 billion from now to the end of the year. If this relationship holds, Bitcoin will quickly give up the sell-off caused by the appreciation of the yen. The next stop for Bitcoin is $100,000.
The alt season will only return after Bitcoin and Ethereum break through $70,000 and $4,000 respectively. Hayes also said, "This year is the best time for liquidity. Therefore, I will sell on the highs. And put the funds into Ethena USD (sUSDe) and pledge them.
