Bitcoin Jumps Past $120K Amid Hayes’ ECB Critique

[tradelikepro]

Bitcoin surged past $120,500 on Thursday, rising more than 8% over the past week, with traders citing Arthur Hayes’ latest blog post as one reason behind renewed risk-taking.

Ethereum also gained ground, climbing close to $4,500 and extending a week-long rally. Hayes suggested that Europe’s monetary woes could act as a catalyst for Bitcoin’s next leg up, framing the asset as a hedge against a weakening euro.

“Bitcoin doesn’t care and will continue its inexorable rise versus the piece of trash that is the euro,” Hayes wrote.