Bitcoin (CRYPTO: BTC) has likely bottomed near $58,000-$60,000 and could grind higher into a "hated rally" as the U.S. moves toward de facto yield curve control, according to BitMEX co-founder Arthur Hayes.
Speaking on Cointelegraph’s "Trade Secrets" on Friday, Hayes said the market is starting to understand that U.S. debt is too large and too expensive to finance without more liquidity support.
According to Hayes, the key driver is not politics but liquidity.
Treasury Secretary Scott Bessent’s long-end Treasury buybacks are a signal that the U.S. is moving toward yield curve control, even if officials do not call it that.
"They call it Treasury buyback […] but at the end of the day, it’s money printing," Hayes pointed out.
