Bitcoin remains a focal point despite the current market correction. Arthur Hayes, co-founder of BitMEX, pointed to several factors that could sustain the cryptocurrency's bullish trend.
Impact of US Monetary Policy
Hayes noted that the Supplementary Leverage Ratio (SLR) exemption for banks is progressing. This allows banks to hold more US Treasury bonds, increasing their liquidity.
Significance of Legislative Initiatives
Moreover, according to Hayes, the GENIUS Act, which establishes oversight and approval for US stablecoin issuers, will help strengthen the stablecoin market. He claims this law 'hands the US stablecoin market to banks.'
Geopolitical Environment and Bitcoin
Additionally, Hayes believes that geopolitical tensions in the Middle East are driving increased interest in safe-haven assets like Bitcoin. He predicts that 'all-time highs for BTC are coming.'
Arthur Hayes' statements emphasize the prerequisites for potential Bitcoin growth in the upcoming months, considering both internal economic factors and external geopolitical circumstances.
