Former BitMEX CEO Arthur Hayes provides a bold forecast for Bitcoin's future based on liquidity changes and economic conditions.
Liquidity: The Catalyst for Bitcoin Price Growth
In his April 2025 essay 'Ski Cut', Arthur Hayes claims that Bitcoin's price could surpass $110,000 and potentially reach $200,000. He attributes this to a surge in market liquidity induced by U.S. policies. Hayes highlights a shift in the U.S. Treasury's approach, now issuing short-term bonds instead of long-term ones, which will draw funds from the FRS repo facility back into the market.
Altcoins Awaiting Their Turn
Hayes suggests that Bitcoin's market dominance is expected to rise before altcoins come into play. Historically, Bitcoin rallies have preceded altcoin seasons in 2017 and 2021. He mentions that after crossing the $110,000 mark, capital will likely rotate into smaller tokens.
Warnings and Forecasts
Despite the optimistic outlook, Hayes warns about the volatility of the crypto market. Changes in regulations or global events can affect outcomes. Nonetheless, he notes Bitcoin's recent rise to $94,270, overcoming significant resistance and the potential to rise above $100,000.
Arthur Hayes' forecasts highlight the importance of liquidity for Bitcoin's future, but risks remain and investors should approach prospects with caution.
