Mr. Hayes Predicts Bitcoin Rebound in 2026, Citing Expanding US Dollar Liquidity as a Tailwind

On the 14th, BitMEX co-founder Arthur Hayes released his latest essay 'Frowny Cloud', analyzing that the subdued performance of Bitcoin (BTC) in 2025 is primarily due to the contraction of US dollar liquidity. Hayes predicts that in 2026, with the Federal Reserve Board's (FRB) asset expansion, increased strategic industry lending by commercial banks, and a decrease in mortgage rates, US dollar credit will expand again, potentially boosting risk assets such as BTC. Hayes noted that in 2025, BTC, gold, and the Nasdaq 100 index, three major assets, will each show different movements...