“Risk assets such as BTC and other cryptocurrencies will continue to grow strongly,” wrote Arthur Hayes on the social network X (Twitter).
The ex-CEO of the crypto exchange drew the attention of subscribers: since the beginning of November, there has been a significant injection of liquidity into the US financial market in the amount of almost $200 billion. According to the expert, this indicates a drop in the reverse repo balance (RRP), while the balance of the general treasury account (TGA) ) remains unchanged – and this is good for the crypto market. This influx of liquidity essentially helps risky assets, Hayes believes.
The day before, the former head of BitMEX made a more specific forecast for Bitcoin – that the cryptocurrency would rise to $1 million.
Hayes believes that institutional investors’ interest in Bitcoin may “foreshadow a situation that we end up not liking.” According to the expert, the “hype around Bitcoin ETFs” has nothing to do with the recent increase in the rate by 15%: investors “buy BTC due to inflation against the backdrop of wars around the world.”
Source: Bits
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