Crypto ready for 'up only' mode once US TGA hits $850B target: Arthur Hayes

Liquidity is set to flow into private financial markets once the United States Treasury fills its General Account with $850 billion.

Crypto markets will enter “up only” mode once the United States Treasury hits its target goal of filling the General Account (TGA), the Treasury Department’s bank account, with $850 billion, according to Arthur Hayes, co-founder of the BitMEX crypto exchange.

“With this liquidity drain complete, up only can resume,” Hayes wrote on Friday as the US TGA’s opening balance crossed $807 billion. When the Treasury is filling its General Account, the funds are generally sequestered and do not flow into private markets.

However, not all analysts were convinced by Hayes’ prediction that liquidity will flow to financial markets once the US Treasury hits its goal.

Read more