Arthur Hayes Says Bitcoin Faces Weakness Until Fed or Banks Expand Balance Sheets

Arthur Hayes expects Bitcoin (BTC) weakness to last until the Federal Reserve or banks start growing their balance sheets. A US dollar liquidity gauge is already up about 4.5% this year. Hayes, BitMEX co-founder and chief investment officer of family office Maelstrom, posted the call on X. Bitcoin holders therefore face a rising liquidity gauge and a balance sheet condition Hayes ties to the weakness. Why Is Arthur Hayes Cautious on Bitcoin Despite Rising Liquidity? The post came with a chart of the .USDLIQ index, a gauge of dollar liquidity. The index stood at 32.71 million as of November 2, up 4.49% since January. However, it sits about 0.6% below its October peak of 32.90 million.

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