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#加密市场观察 Arthur Hayes: The credit expansion of the US dollar and the Chinese yuan will benefit the crypto market, and Bitcoin returning to $126k is inevitable.
BitMEX Co-founder Arthur Hayes stated in his latest article, "The Butterfly Touch," that the AI infrastructure race, war expenditures, and countries shifting toward infrastructure and key commodity reserves will drive continued credit expansion of the US dollar and the Chinese yuan, benefiting Bitcoin and cryptocurrencies.
Hayes believes Bitcoin has bottomed near $60k, and breaking back above $126k is "a certainty." If it breaks $90k, the rally could accelerate. Additionally, he revealed that his family fund Maelstrom has currently heavily invested in HYPE and ZEC, and he plans to focus on and deploy in NEAR next. The above reflects Hayes's personal views and does not constitute investment advice.
Wintermute stated that U.S. stocks have risen for the sixth consecutive week, with the Nasdaq and S&P 500 reaching new highs. BTC also broke above $80k for the first time since January and touched around $83k, surpassing the 200-day moving average that had suppressed prices for the past seven months. However, Wintermute believes that this round of BTC rally is more like a short squeeze rather than a healthy breakout, as open interest has increased from $48 billion to $58 billion within a month, and spot trading volume is at a two-year low. Because a bull market confirmation usually requires spot buying pressure, the current rally is more driven by forced short covering in futures contracts. Wintermute also mentioned that CPI data and the transition of Federal Reserve Chairmanship could become key macro variables.
BitM's co-founder Arthur Hayes stated in his latest article, "The Butterfly Touch," that the AI infrastructure race, war expenditures, and countries shifting toward infrastructure and key commodity reserves will drive continued credit expansion of the US dollar and the Chinese yuan, benefiting Bitcoin and other cryptocurrencies.
Hayes believes Bitcoin has bottomed near $60k, and breaking back above $126k is "a certainty." If it breaks $90k, the rally could accelerate. Additionally, he revealed that his family fund Maelstrom has currently heavily invested in HYPE and ZEC, and he plans to focus on and deploy in NEAR next. The above reflects Hayes's personal views and does not constitute investment advice.
Wintermute stated that U.S. stocks have risen for six consecutive weeks, with the Nasdaq and S&P 500 reaching new highs. BTC also broke above $80k for the first time since January and touched around $83k, surpassing the 200-day moving average that had suppressed prices for the past seven months. However, Wintermute believes that this round of BTC rally is more like a short squeeze rather than a healthy breakout, as open interest has increased from $48 billion to $58 billion within a month, and spot trading volume is at a two-year low. Since a bull market typically requires spot buying to confirm, the current rally is more driven by forced short covering. Wintermute also mentioned that CPI data and the transition of Federal Reserve Chairmanship could become key macro variables.