Arthur Hayes Predicts Bitcoin Bull Market Resurgence Amid FRB's Effective QE

Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX and a renowned trader, analyzed on the 4th that the Federal Reserve Board (FRB) is conducting effective quantitative easing through its Standing Repo Facility (SRF), which will lead to the resumption of the Bitcoin (BTC) bull market. He indicated that the increase in U.S. Treasury issuance would lead to a shortfall in funds supplied to the repo market from money market funds and commercial banks, forcing the FRB to step in as the lender of last resort.

Hayes pointed out that the U.S. Treasury needs to cover an annual deficit of about $2 trillion through bond issuance, with relative value (RV) hedge funds being the primary buyers...