Arthur Hayes: The alt season will come after Bitcoin and Ethereum break through $70,000 and $4,000 respectively

BlockBeats news, on August 13, BitMEX co-founder Arthur Hayes said in his latest blog post that Yellen will inject at least $301 billion and up to $1.05 trillion between now and the end of the year. This will create a brilliant bull market for all risk assets, including cryptocurrencies, before the election.

Since April this year, the crypto risk market has been sideways, and liquidity in the system has been drained due to a net reduction in outstanding Treasury bills. Cash is still trapped on the Fed's balance sheet (RRP) and cannot drive up the prices of financial assets.

Therefore, according to Yellen, the net issuance of U.S. Treasury bills will reach $301 billion between now and the end of the year. If this relationship holds, Bitcoin will quickly give up the sell-off caused by the appreciation of the yen. The next stop for Bitcoin is $100,000.

Only after Bitcoin and Ethereum break through $70,000 and $4,000 respectively, will the alt season return.

Hayes also said, "This year is the best time for liquidity. Therefore, I will sell on the rallies. And put the money into and stake it in Ethena USD (sUSDe). Once Yellen and Powell join forces, China will release its long-awaited fiscal stimulus plan. The US-China cryptocurrency bull market in 2025 will be brilliant."