Bitcoin and Altcoins Experience Recovery
Bitcoin and altcoins experienced the expected recovery as the Donald Trump administration signaled to restart tariff negotiations with China. At this point, while there was an expectation in the market that the rise would continue, BitMEX co-founder Arthur Hayes, known for his bold statements, made new statements.
Market Insights from Arthur Hayes
He said that with the recent bullish wave, BTC bottomed at $74,500 and is ready to rise to new ATHs and benefit from increased liquidity. Hayes, who stated in his latest blog post that concerns that the bull market is over are misplaced, suggested that bond buybacks under U.S. Treasury Secretary Scott Bessent could be a significant source of impending liquidity.
Impact of Treasury Actions
Hayes stated that Bessent will purchase old bonds and implement a new debt issuance plan for it. Arguing that this plan will inject fresh capital into the system and push investors to seek alternatives to traditional assets, Hayes said that gold and Bitcoin are the primary assets.
Future Predictions for Bitcoin
Stating that the increase in liquidity will carry Bitcoin to new ATHs, the famous name said, “In 2022, people believed that Bitcoin could fall below $10,000 due to the combination of negative market factors after reaching the $15,000 cycle bottoms. Today, some believe that we will return from $74,500 to below $60,000 and that the bull market is over. However, this is not true. BTC bottomed at $74,500. With the increase in liquidity, BTC will reach new ATHs.”
Investment Strategy and Targets
Noting that Bitcoin was the most purchased crypto during the drop from $110,000 to $74,500, Hayes maintained his $200,000 target for BTC. Hayes, who expects Bitcoin to gain major momentum and reach $200,000 after surpassing its previous ATH of $110,000, argued that altcoins will rally after BTC’s new ATH.
Outlook for Altcoins
Arthur Hayes stated that when Bitcoin surpasses a new peak again, capital will start to turn to altcoins and that shitcoins will show the best performance again. “Once Bitcoin breaks past its previous ATH of $110,000, it will likely rally and further increase its dominance. It will approach $200,000. Then the rotation from Bitcoin to shitcoins will begin. AltSzn will begin.”
*This is not investment advice.
