BitMEX Co-founder Bullish on Bitcoin Amidst Rising Dollar Liquidity

Arthur Hayes, co-founder of BitMEX, is optimistic regarding Bitcoin. Hayes expressed his views regarding X. In the accompanying chart that illustrated changes in the Treasury general account (TGA) balance and net reverse repurchase agreement (RRP), Hayes referred to Janet Yellen, the United States Treasury Secretary, as “Bad Gurl Yellen.”

Hayes advised fellow Bitcoin enthusiasts to maintain their concentration in the X post, alluding to a substantial increase in the liquidity of the U.S. currency.

He supposed that the price of BTC would likely increase in tandem with the surge in dollar liquidity. The accompanying chart depicts the net fluctuations in RRP and TGA balances, suggesting a potential correlation between increased dollar liquidity and the price of Bitcoin.

In contrast, Dharmafi, a cryptocurrency analyst, provided more precise data regarding X. Since November 21, a substantial net liquidity increase of $106 billion has occurred, as highlighted in the post, which also cited an RRP of $65 billion and a TGA balance of $35 billion.

The ascent in liquidity, as Hayes aptly noted, demonstrates the evolving dynamics of financial markets. Speculative investors and Bitcoin aficionados can predict possible repercussions for the cryptocurrency market by monitoring liquidity injections.

Although the co-founder of BitMEX emphasized the correlation between the liquidity of the US dollar and the price of Bitcoin, Dharmafi’s data further substantiates the significance of the surge in liquidity.

The escalation of $106 billion in net liquidity since November 21 has prompted inquiries regarding the possible ramifications for various asset classes, cryptocurrencies included.

Conversely, in an interview with Reuters at a gathering of G20 finance ministers and central bank governors, Yellen, an individual who harbors doubts regarding Bitcoin, recently advised cryptocurrency exchanges to adhere to legal regulations.

Yellen emphasized the importance of adherence to regulations in the digital currency sector as a prerequisite for conducting business within the U.S. financial system.