BitMEX co-founder Arthur Hayes is bullish on Bitcoin (BTC). Hayes shared his thoughts on Hayes called U.S. Treasury Secretary Janet Yellen “Bad Gurl Yellen.”
In post, Hayes encouraged his fellow Bitcoin enthusiasts to remain focused, highlighting the significant increase in US dollar liquidity. He suggested that BTC would rise in price to reflect the increase in dollar liquidity.
advertising
The attached chart shows the net change in RRP and TGA balances, indicating a possible link between increased dollar liquidity and BTC price.
I got on my feet and observed how Bad Gurl Yellen is busy pumping out financial assets. Don’t get distracted. $ Liquidity is increasing and $BTC It will also go up. Net RRP and TGA balance change chart. pic.twitter.com/l2US0FzlAX
— Arthur Hayes (@CryptoHayes) November 25, 2023
Meanwhile, cryptocurrency analyst dharmafi said: shared More specific numbers for X. The post highlighted that RRP was $65 billion, TGA balance was $35 billion, and net liquidity had surged $106 billion since November 21.
As Hayes emphasized, the increase in liquidity signals a change in the dynamics of financial markets. Investors and Bitcoin enthusiasts watching the liquidity injection can expect it to have a potential impact on the cryptocurrency market.
While the BitMEX co-founder highlighted the link between dollar liquidity and Bitcoin price, dharmafi’s data reinforces the impact of the liquidity surge. Net liquidity has increased by $106 billion since November 21, raising questions about the potential impact on various asset classes, including cryptocurrencies.
Related: CoinFLEX Creditors Dissatisfied with OPNX Restructuring: Report
Meanwhile, Bitcoin-skeptic Yellen warned cryptocurrency exchanges to follow the law while speaking to Reuters at the recent G20 Finance Ministers and Central Bank Governors meeting.
Yellen emphasized the importance of compliance in the digital currency industry, emphasizing that operating within the U.S. financial system requires compliance.
magazine: Big question: Why are there so many cryptocurrency-related deaths?
Source: Cointelegraph.com