In this in-depth analysis, Arthur Hayes, the co-founder of BitMEX, breaks down the current state of the crypto market, focusing on Bitcoin’s evolving relationship with liquidity cycles, Ethereum’s performance, and macroeconomic dynamics.
Arthur dives into:
✅ The hidden bull market from late 2022 to early 2024 driven by Fed policies and liquidity injections.
✅ The role of Bitcoin as a global asset linked to fiat currency debasement and macro liquidity.
✅ Why Ethereum and Solana have performed differently this cycle and what it means for the future.
✅ The impact of geopolitical and fiscal policies on global markets, with insights into the U.S. Treasury’s funding challenges.
✅ The long-term outlook for Bitcoin amidst rising global demand and fiscal deficits.
Arthur also touches on why Europe plays a limited role in the global financial equation and how Solana’s rapid growth might face challenges ahead. With his signature bold commentary, he explains why the U.S. government will continue juicing markets to avoid recessions, why central bank independence is a myth, and what this means for Bitcoin investors.
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CREDITS: Bankless
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