Arthur Hayes, co-founder of BitMEX, anticipates a bullish week for Bitcoin due to probable market developments that will help altcoins such as Sui (SUI). He believes that Bitcoin’s value may increase if market conditions continue to deteriorate.
Hayes has expressed unhappiness with the Federal Reserve’s policies, claiming that they have not done enough to reduce government expenditure, which is the primary source of inflation.
He expects Treasury Secretary Janet Yellen to intervene and inject cash into the market, as she did in 2023 when bond yields rose. If this scenario persists, it will have an impact on the stock market, jeopardize the health of smaller banks, and raise mortgage rates, allowing Bitcoin to benefit from the subsequent pandemonium.
More liquidity in the system benefits risky assets such as BTC, but if Yellen does not move soon, the scenario might worsen into a catastrophic crisis that could destabilize the US economy. If Yellen reacts swiftly, Bitcoin will begin to chop sideways, while altcoins may plummet even farther.
Bitcoin is currently valued at $60,190, up 10.94% in the last 7 days, and the price is consolidating with data and market sentiment, pointing to a good week for BTC.
