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Arthur Hayes predicts Treasury buybacks will drive Bitcoin beyond $110k, potentially reaching $200k

Hayes sees a structural setup similar to the third quarter of 2022, when Bitcoin rose nearly sixfold during the subsequent liquidity surge.

CryptoSlate

Apr 24

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Happy Thursday!

Bitcoin is stealing the spotlight once again as former BitMEX CEO Arthur Hayes sees US Treasury buybacks fueling a liquidity surge that could catapult Bitcoin past $110,000, and possibly all the way to $200,000, echoing the explosive rally of late 2022. As Bitcoin rockets past $94,000, over $650 million in shorts have been liquidated, leaving bears reeling in the wake of this historic move. Meanwhile, Riot Platforms is leveraging its $1.8 billion Bitcoin treasury for a $100 million Coinbase loan, signaling bold new strategies as the industry adapts to rapid change. Dive into today’s top stories to see what’s driving crypto’s next big chapter.

🚀Are you a Web3 marketer? Join our new Web3 Marketing Insights channel here https://t.me/cryptoslate_web3. We’ll be sharing tips, strategies, and special announcements to help web3 marketers level up their game.

The global crypto market cap is $2.92 trillion, with a 24-hour volume of $95.42 billion. The price of Bitcoin is $93,244.71, and BTC market dominance is 63.4%. The price of Ethereum is $1,770.69, and ETH market dominance is 7.3%. The best-performing sector is Bitcoin Ecosystem, which gained 10%. The Crypto Fear & Greed Index is currently Greed (63).