Arthur Hayes: Bitcoin Bull Market Has Begun as Treasury Buybacks Fuel Liquidity

TLDR: Hayes says expanded Treasury buybacks are fueling dollar liquidity and a new Bitcoin bull run Maelstrom is now at maximum risk, with major exposure to Bitcoin, Ether, ENA and ETHFI tokens Ten-year yields briefly fell after Bessent’s August 19 buyback announcement, then rebounded Hayes compares Bessent’s strategy to Yellen’s 2023 Activist Treasury Issuance liquidity [...]

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