Arthur Hayes: The market may go sideways or fall slightly before Powell's speech at the end of August. In a pessimistic scenario, BTC may drop to the range of $90,000 to $95,000
PANews reported on July 3 that Arthur Hayes pointed out in his latest article that although he is optimistic about the long-term performance of Bitcoin and digital assets, Trump's "Big Beautiful Act" may cause a temporary contraction in US dollar liquidity in the short term. He said that the bill will raise the debt ceiling, and the Treasury Department may replenish the Treasury Account (TGA) balance from US$364 billion to US$850 billion by issuing debt, which may trigger a liquidity contraction of US$486 billion.
Hayes predicts that the market may go sideways or slightly down before the speech of Federal Reserve Chairman Jerome Powell at the end of August. If the TGA supplement has a negative impact on the liquidity of the US dollar, the price of Bitcoin may drop to the range of US$90,000 to US$95,000; if the impact is limited, Bitcoin may fluctuate in the range of US$100,000, but it will be difficult to break through the historical high of US$112,000.
It is expected that by early September, after the debt ceiling issue is resolved, market bulls will regain the upper hand as money creation accelerates. Bitcoin is expected to rise 10 times to $1 million by 2028, while the Nasdaq 100 index may soar to 100,000 points.
You May Also Like
Over 60% of crypto press releases linked to high-risk or scam projects: Report
Outlook remains cautious – TD Securities
