Arthur Hayes Says Bitcoin May Have Already Found Its Bottom

Arthur Hayes believes Bitcoin may already be past its cycle bottom.
His thesis centers on the rapid expansion of U.S. government debt and the growing pressure it puts on policymakers.
Hayes argues that this could eventually push the U.S. toward a form of de facto yield curve control, where authorities intervene to keep borrowing costs under control.
That would likely require additional liquidity and potentially more money creation.
Historically, Bitcoin and other crypto assets have tended to perform well during periods of expanding global liquidity.
If that dynamic returns, Hayes believes it could provide a supportive backdrop not only for Bitcoin, but for altcoins as well.
For now, his view is that the macro environment may already be turning more favorable for crypto.