ChainCatcher news, BitMEX co-founder Arthur Hayes published a lengthy article, using the form of a satirical novel to point out that Federal Reserve Chairman Powell is trapped in a fiscally dominated "forced compliance" pattern, and his shift to loose monetary policy has become inevitable. He emphasized that the Federal Reserve will be forced to restart quantitative easing (QE) to cover the massive fiscal deficit of the United States, and the resurgence of dollar liquidity will drive Bitcoin stronger.Hayes analyzed that although the market is still debating the pros and cons of tariffs, what the crypto market should truly celebrate is the imminent return of QE. He expects this process to begin this summer and noted that the Federal Reserve slowing down the pace of QT is a signal being released.He concluded that fiscal dominance means the Federal Reserve will abandon its independence, prioritizing ensuring that the government can finance itself at affordable interest rates, which is the core reason for persistently high inflation. In the face of a new round of capital release, Bitcoin will benefit in the long term due to its "digital gold" properties.

ChainCatcher news, CryptoQuant CEO Ki Young Ju posted on the X platform stating that stablecoins alone cannot provide sufficient buyer liquidity for Bitcoin. The ratio of BTC to stablecoins is 6.05, which means the BTC reserves are six times that of stablecoins, similar to the last ATH. ETF flows and Coinbase dollar liquidity will be crucial in the coming months.

ChainCatcher news, BitMEX co-founder Arthur Hayes expressed optimism about Bitcoin's trend in his latest blog post titled "May Risks." Hayes provided a detailed analysis of the potential impact of recent changes in U.S. monetary policy on the crypto market.Hayes pointed out that the Federal Reserve's decision to reduce the pace of balance sheet reduction from $95 billion per month to $60 billion essentially adds $35 billion in liquidity each month. At the same time, the U.S. Treasury revealed in its latest quarterly borrowing report that it will issue additional short-term Treasury bonds with maturities of 4 weeks, 6 weeks, and 8 weeks to meet funding needs before the end of May. This move is expected to bring additional dollar liquidity to the market. Hayes also mentioned that after the bankruptcy of the small U.S. bank Republic First Bank, the FDIC activated its insurance fund to ensure the interests of all depositors in order to avoid a bank run. This means that U.S. authorities have effectively added $6.7 trillion in contingent liabilities to the banking system nationwide.Hayes believes that these factors will continue to inject dollars into the market, alleviating downward pressure on cryptocurrencies and driving Bitcoin to stabilize and rebound in the coming months. He predicts that Bitcoin may have bottomed out around $58,600 and will next return above $60,000, consolidating in the $60,000-$70,000 range until the end of summer in the Northern Hemisphere. He also revealed his optimism for a rebound and is currently accumulating high Beta tokens like SOL on dips.

ChainCatcher news, BitMEX founder Arthur Hayes analyzed the current state of dollar liquidity on social media. Hayes pointed out that while market attention is focused on U.S. Treasury Secretary Yellen's impact on financial assets, dollar liquidity is actually increasing, which will help boost the price of Bitcoin (BTC).

ChainCatcher news, BitMEX founder Arthur Hayes stated on social media, "Since the beginning of November, as the reverse repurchase (RRP) balance held by the New York Fed has decreased while the U.S. Treasury General Account (TGA) balance has remained unchanged, nearly $200 billion in liquidity has been injected (into the market). Risk assets such as Bitcoin and other cryptocurrencies will continue to soar."