Bitcoin bull market awaits as US faces 'bear steepener' — Arthur Hayes
Bitcoin is witnessing a 16-year high in 30-year U.S. government bond yields, and money printing is all but guaranteed, says the ex-BitMEX CEO. Bitcoin (BTC) flipping full bull could come courtesy of the United States government, a new prediction says. In an X thread on Oct. 4, Arthur Hayes, former CEO of crypto exchange BitMEX, eyed ballooning yields as precursor to a new Bitcoin and crypto bull market . Hayes: Bitcoin bulls should eye U.S. "no way out" moment U.S. treasury yields are “screaming higher,” and with that, Hayes believes that a macroeconomic flashpoint is only a matter of time. The reason comes in the form of a so-called “bear steep ener” — a phenomenon that describes long-term interest rates rising more quickly than short-term ones. “Why do I love these markets right now when yields are screaming higher? Bank models have no concept of a bear steepener occurring,” he argued. Given the current steep rise in the 2s30s curve — the difference between the 30-year an...