Bitcoin billionaires are bearish on Bitcoin, are you still blindly bullish?
He is ready to leave the market temporarily
Bitcoin may face difficulties before halving
Bitcoin billionaire Arthur Hayes predicts that cryptocurrencies will face difficulties before May. He believes that the market may fall rather than rise when Bitcoin halves, which is contrary to traditional views.
Halving event attracts attention
Bitcoin halving is a regular event, which will reduce miner rewards for the fourth time in history. However, Hayes believes that the liquidity problem of the US dollar may hinder the expected price increase after the halving.
Tightening liquidity affects the market
Hayes explained that tax payments, quantitative tightening and the balance of the Treasury account affect the liquidity of the US dollar, which in turn affects asset prices and trading strategies.
Hayes decided to leave the market temporarily
He expects that the halving will intensify the sell-off of crypto assets, so he decided to exit the market before May, sold some assets, and invested the funds in Ethena's USDe to obtain high returns.
High returns attract attention and comparison
Ethena's USDe provides synthetic US dollar protocols and staking rewards, with a yield of up to 37.1%, but it also triggers comparisons with the collapse of TerraUSD stablecoins.
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