In the morning, profit-taking sell orders have burst and the market is wobbling. In this kind of situation, Arthur Hayes has offered an interesting observation.

Based on his analysis, he believes the U.S. tariff bill is likely to expire in the third quarter. At the very least, the market has been viewing it that way following the release of the non-farm employment data. The key issue here is credit creation. Arthur Hayes’ diagnosis is that no major economy can rapidly generate enough credit to lift nominal GDP.

Against this backdrop, the price targets he puts forward are quite bold. He predicts that Bitcoin will test $100,000 and that Ethereum will test $3,000. Since BTC is currently around $80.80K and ETH is around $2.31K, he believes there’s still a lot further to go.

Arthur Hayes says he plans to go deeper into this topic. He is scheduled to deliver a keynote speech at the WebX Asia event in Tokyo on August 25, where we should be able to hear more detailed market analysis.

Meanwhile, an interesting point is Arthur Hayes’ own recent moves. Over the past six hours, it has been reported that he sold roughly $13.35 million worth of ETH, ENA, and PEPE. A subtle gap seems to be emerging between his bullish outlook and his actual position adjustments.