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According to the last x mail Written by Raed Chefir Arthur Hayes, Bitcoin (BTC) may have reached its bottom during diving to $ 77,000 on March 10. However, Hayes warned that although BTC may be a bottom, stock markets may face more pain.
BTC bottom $ 77,000? Hayes think that
Arthur Hayes, former CEO of Bitmex recently, took to X to announce that BTC may be likely to have it lowest In $ 77,000. The famous encryption market commentator pointed to the latest US Federal Reserve's notes (Fed), which indicates the end of the quantitative tightening (QT). Hayez commented:
Jaypow, QT was mainly delivered during April 1. The next thing we need to install for Realz is either SLR exemption or QE restart. He was BTC 77 thousand dollar bottom, Prob. But Bonds Prob has more pain to fully transfer Jay to Team Trump, so keep males and exchange.
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For beginners, the QT is one of the policies of the Federal Monetary Reserve Bank that aims to reduce the supply of money by selling assets such as government bonds or allowing them to mature without investment. Although this helps to control inflation, it can also lead to high interest rates and a slower economic growth.
The Federal Reserve began its newest tournament in QT nearly three years ago in June 2022 to combat high inflation resulting from economic stimulation in the Kofid era. Now that inflation seems to be reduced, the Federal Reserve has no reason to continue QT.
Yesterday, the Federal Reserve announced that from April 1 on April, it will slow down the pace of the public budget. This shift in monetary policy of assets will be likely to benefit from the risk such as BTC and stocks.
As mentioned in his post, Hayes emphasized that the following potential Saudi stimuli stimuli can either exempt the supplementary leverage percentage (SLR) or the beginning of quantitative mitigation (QE).
To explain, SLR exemptions temporarily allowed banks except for some assets, such as the US Treasury and Central Bank reserves, from leverage accounts to encourage lending and support financial markets during crises. Likewise, QE is a monetary policy through which the Federal Reserve Bank increases the width of money in the economy, which may benefit from high -risk assets like BTC.
Jeff Jersen, co -founder of Axie Infinity Repeat Hayes's feelings, saying that the end of QT from April, will be “great for both the encryption and stock markets.” Jirin added that the current monetary policy is the narrower that he has noticed since 2010.
Bitcoin is not yet outside the forest
While the market optimism has increased after the recent Federal Reserve comments, the first cryptocurrency has not completely left the forest. For example, BTC recently Collapse Through the 12 -year trend line against gold, which raises fears of increased economic uncertainty in the short term.
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Moreover, the CEO of Cryptoquant Ki Young Ju recently panic The market by announcing that Bitcoin Bull has ended. At the time of the press, BTC is trading at $ 85,203, an increase of 2 % over the past 24 hours.
Distinctive image from Unsplash, Chart from TradingView.com
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