Over the past week, the price of bitcoin has increased by almost 11%, which surprised many experts in the field of cryptocurrencies. The head of the BitMEX exchange, Arthur Hayes, also did not expect such growth dynamics. Earlier, he expressed the opinion that bitcoin has no potential for growth, given inflation in the United States and the tense geopolitical situation.

However, despite the outflow of funds from Grayscale Bitcoin Trust, bitcoin has demonstrated stability, partly due to the influx of institutional assets into ETF funds from Fidelity, BlackRock and BitWise. Arthur Hayes stressed that at the moment bitcoin does not have a reliable foundation to significantly strengthen its position.

He also noted that the sharp rise in inflation in the United States and the sale by the government on January 26 of 2,934 bitcoin coins worth $120 million confiscated in the Silk Road case create uncertainty in the market. It is unclear whether large investors have benefited from the recent rise in the price of BTC.

Bitcoin is currently trading around the $43,540 mark, having increased by 0.32% over the past day, and with a turnover of $23.2 billion, which represents a 3.5% volume increase.