Arthur Hayes: The Sino-US cryptocurrency bull market will be extremely brilliant in 2025, with liquidity everywhere

In his latest blog post, Arthur Hayes stated that from now until the end of the year, Yellen will inject at least $301 billion and up to $1.05 trillion. This will create a brilliant bull market for all risk assets including cryptocurrencies before the election. Since April this year, the crypto risk market has been consolidating sideways due to a net decrease in unredeemed treasury bonds, draining liquidity within the system. Cash is still trapped on the Federal Reserve's balance sheet (RRP), unable to drive up financial asset prices.

Therefore, according to Yellen's statement, from now until the end of the year, net issuance of U.S. Treasury bonds will reach $301 billion. If this relationship holds true, Bitcoin will quickly recover from sell-offs caused by yen appreciation. The next stop for Bitcoin is $100k USD. Altseason won't return until Bitcoin and Ethereum break through $70k and $4k respectively. Hayes also said "This year is an optimal time for liquidity so I'll be selling high and investing my funds into Ethena USD (sUSDe). Once Yellen teams up with Powell, China will release its long-awaited fiscal stimulus plan which would make 2025’s Sino-US cryptocurrency bull market very impressive."