- Arthur Hayes predicts a crypto market rebound once the US government shutdown ends due to rising liquidity.
- Hayes noted a strong correlation between Bitcoin’s recent 8% drop and a 5% decline in the US liquidity index.
- The approval of spot ETFs has deepened Bitcoin’s ties to mainstream macroeconomic factors.
BitMEX co-founder Arthur Hayes has revealed a correlation between Bitcoin’s price and the US dollar liquidity, highlighting the influence of mainstream factors on the cryptocurrency market.
In a recent analysis, Hayes highlighted how mainstream fiscal factors are currently dominating cryptocurrency market trends. He predicts the broader digital asset market will experience a significant resurgence immediately after the ongoing US government shutdown ends.
Read The Full Article Why Is Crypto Down? Data Shows Bitcoin Tracking US Liquidity Drain On Coin Edition.
Source: https://coinedition.com/crypto-down-today-bitcoin-drop-mirrors-us-liquidity-drain/