Arthur Hayes, former CEO of crypto exchange BitMEX, believes that a new Bitcoin and crypto bull market could be on the horizon due to ballooning yields in the U.S. treasury. This phenomenon, known as a “bear steepener”, occurs when long-term interest rates rise more quickly than short-term ones. Banks are unable to account for this in their models, and as a result, they will be selling bonds or paying fixed on IRS as rates rise. This could lead to a return to mass liquidity injections, counteracting the quantitative tightening seen since late 2021.Philip Swift, creator of statistics resource LookIntoBitcoin and co-founder of trading suite Decentrader, voiced his support for Hayes’ prognosis. He showed a chart of Bitcoin’s relationship with treasury yields, noting that this could be “THE major catalyst for the Bitcoin bull market”.The U.S. debt has also been increasing at an astonishing rate, recently passing $33 trillion for the first time. In a single day, the U.S. added more than half of Bitcoin’s entire market cap in debt. This has caused some to question if $27,500 is a good price to buy Bitcoin.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Philip Swift, Arthur Hayes, Samson Mow
Companies	Jan3, TradingView, BitMEX, Decentrader, LookIntoBitcoin
Currencies	Ethereum, Bitcoin, Curve Network, US Dollar
Securities	None