Arthur Hayes Predicts Continued Bitcoin Weakness

The liquidity of the US dollar has increased by 4.5% this year, but Bitcoin continues to remain in a downward trend. Arthur Hayes, co-founder of BitMEX, predicts that Bitcoin's weakness will persist until the Federal Reserve or commercial banks expand their balance sheets. Recently, Hayes sold over $22 million in digital assets, stating that he would wait for monetary policy and geopolitical uncertainties to be resolved before re-entering the market. He noted that the dollar liquidity indicator, USDLIQ, recorded 32.71 million, which is a 4.49% increase compared to January of this year, but lower than the peak last October. He added that the rise in liquidity indicators does not imply an increase in new funds flowing into the digital asset market, and without an increase in funding from financial institutions, the money flowing into Bitcoin will be limited. Bitcoin has recently fallen below $77,000, continuing its bearish trend, and according to a report from Bitfinex, Bitcoin dropped to $76,311 on the 30th of last month. The average purchase price for short-term Bitcoin holders is $75,772, and below this price, there may be less buying volume, weakening the support for purchases during declines.

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