Bitcoin Soars Toward $100,000 As Treasury, Not Fed, Drives Liquidity: Expert

Arthur Hayes, the co-founder of BitMEX and principal of Maelstrom Capital, contends that the US Treasury—rather than the Federal Reserve—is the true engine of the current bull market in risk assets, Bitcoin foremost among them. Speaking in a live-streamed one-on-one interview Wednesday evening, Hayes argued that traders should “ignore Powell” and instead parse every word and data table that comes out of the Treasury’s quarterly refunding announcement. “Powell hasn’t really mattered for many years,” Hayes insisted, dismissing the Fed chair’s decision to leave the federal-funds rate at 4. 25 % to 4 source: https://www.newsbtc.com/bitcoin-news/bitcoin-soars-as-treasury-not-fed-drives-liquidity/