“Risk assets like BTC and the rest of cryptocurrencies will continue to rise steadily,” Arthur Hayes wrote on social network X (Twitter).
The former CEO of a crypto exchange pointed out to subscribers: since the beginning of November, there has been a significant injection of liquidity into the U.S. financial market of nearly $200 billion. According to the expert, this indicates a fall in the reverse repo balance (RRP), while the balance of the general treasury account (TGA) remains unchanged – and this is good for the crypto market. Such an influx of liquidity in principle helps risky assets, Hayes believes.
The day before, the former head of BitMEX made a more specific prediction for bitcoin – that the cryptocurrency would rise to $1 million.
Hayes believes that institutional investor interest in bitcoin could “foreshadow a situation that we ultimately don’t like”