Arthur Hayes Says Liquidity Is the Key to Bitcoin’s Next All-Time High

[johnblockbuster]

Arthur Hayes, co-founder of BitMEX, believes Bitcoin can reach new all-time highs even after underperforming gold and tech stocks in 2025. According to Hayes, the deciding factor isn’t sentiment or technology, but liquidity—specifically whether US dollar liquidity expands again in 2026.

Hayes argues that Bitcoin historically thrives when monetary conditions loosen. He expects catalysts such as Federal Reserve balance sheet expansion, easing mortgage rates, and renewed bank lending to US government-backed industries to drive a sharp increase in liquidity. If that happens, Hayes says Bitcoin will “get its groove back,” as excess capital once again flows into risk assets.

[ed]

this actually lines up with past cycles tbh, btc always looks dead right before liquidity flips