BitMEX founder Arthur Hayes says that the crypto market may be gearing up for a 2022-style breakout amid fear, uncertainty and doubt (FUD).
In a new interview with the host of the Crypto Banter YouTube channel Ran Neuner, Hayes says central banks will likely boost money printing to address worsening macroeconomic conditions that could push Bitcoin (BTC) and other crypto assets to much higher valuations.
“I think that the setup is just perfect for a rally in risk assets, just like we saw from the third quarter of 2022 until early 2025. There’s a similar setup today. We have a lot of fear, uncertainty, doubt in the markets, and the monetary authorities, especially in America, cannot handle that, so they’re going to resort to money printing…
This is all about the Treasury. [Former US Treasury Secretary] Janet Yellen printed $2.5 trillion from 2022 to 2025. Bitcoin went up 6x. [US Treasury Secretary Scott] Bessent has to do something similar. And so that’s why April 9th was the bottom, and we’re going to go much higher from here.”
Hayes also predicts that the Bitcoin dominance (BTC.D) metric may soon enter a downward phase after tagging the 70% level, setting alts up to outperform the flagship crypto asset.
BTC.D calculates how much of the crypto market cap belongs to BTC. Bitcoin dominance currently stands at 64.81%.
“I think Bitcoin dominance goes to 70%-ish. Bitcoin goes to the $150,000 level, something around there. And then we start to get the rotation into altcoins.”
Bitcoin is trading for $94,030 at time of writing, down 1.8% in the last 24 hours.
Generated Image: Midjourney
